Commerce WAEC

An International organization that influence and fix the price of oil in the International markets is?

A. IMF
B. ECOWAS
C. OPEC
D. OAU

Correct Answer: Option C

C. OPEC

Explanation

Organization of the petroleum exporting countries (OPEC) is a cartel organization that ensure efficient and regular supply of petroleum & ensuring the stabilization of prices in International oil markets.

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