Regarding the Organization of the Petroleum Exporting Countries (OPEC), consider the following statements:1. OPEC is a permanent, intergovernmental organization, created at the Baghdad Conference in 1960.2. As of 2019, OPEC has a total of 13 Member Countries including India.3. OPEC+ comprises 11 additional allied major oil-producing nations, including Russia.How many of the statements given above are correct?a)One Onlyb)Two Onlyc)All Threed)NoneCorrect answer is option 'B'. Can you explain this answer?

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Regarding the Organization of the Petroleum Exporting Countries (OPEC), consider the following statements:

1. OPEC is a permanent, intergovernmental organization, created at the Baghdad Conference in 1960.

2. As of 2019, OPEC has a total of 13 Member Countries including India.

3. OPEC+ comprises 11 additional allied major oil-producing nations, including Russia.

How many of the statements given above are correct?

a)
One Only
b)
Two Only
c)
All Three
d)
None

Correct answer is option 'B'. Can you explain this answer?

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Regarding the Organization of the Petroleum Exporting Countries (OPEC)...

Organization of the Petroleum Exporting Countries (OPEC):

The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental organization, created at the Baghdad Conference in 1960. It is headquartered in Vienna, Austria. Hence, statement 1 is correct.
OPEC membership is open to any country that is a substantial exporter of oil and which shares the ideals of the organization. Ecuador suspended its membership in December 1992, rejoined OPEC in October 2007, but decided to withdraw its membership of OPEC effective 1 January 2020. Indonesia suspended its membership in January 2009, and reactivated it again in January 2016, but decided to suspend its membership once more at the 171st Meeting of the OPEC Conference on 30 November 2016. Gabon terminated its membership in January 1995. However, it rejoined the Organization in July 2016. Qatar terminated its membership on 1 January 2019. This means that, currently, the Organization has a total of 13 Member Countries. Hence, statement 2 is not correct.
With the addition of another 11 allied major oil-producing countries including Russia, the grouping is known as OPEC+. Hence statement 3 is correct

Answered by Notes Wala · View profile

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Regarding the Organization of the Petroleum Exporting Countries (OPEC), consider the following statements:1. OPEC is a permanent, intergovernmental organization, created at the Baghdad Conference in 1960.2. As of 2019, OPEC has a total of 13 Member Countries including India.3. OPEC+ comprises 11 additional allied major oil-producing nations, including Russia.How many of the statements given above are correct?a)One Onlyb)Two Onlyc)All Threed)NoneCorrect answer is option 'B'. Can you explain this answer?

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