A. Conference
B. Special Fund
C. Board of Governors
D. Secretariate
Correct Answer:
Option A – Conference
Explanation
The Conference is the highest decision-making organ of OPEC. The Conference is the highest and the most powerful of all the organs of OPEC.
The Conference takes major decisions in terms of fixing of oil prices and the determination of the production level of oil for each member country.
Other Functions are as follows:
- Formulation of the general policy of the organization and determination of the appropriate methods and means of its implementation.
- Appointment of the Secretary-General the Deputy Secretary, the Chairman and the alternate Chairman of the Board of Governors.
- Approves the appointment of the members of the Board of Governors.
- Considers application for membership of the OPEC
- Considers and approves the budget for the organization submitted by the Board of Governors.
- Considers and approves all reports and recommendations submitted by the Board of Governors concerning the affairs of the organization.
- Approves the appointment of auditors that audit the account of the organization.
