How does OPEC affect the price of oil? OPEC

A) regulates the oil production and supply on the world's market

B) divides the profits from oil among all Middle Eastern countries.

C) sells and buys land that contains oil deposits

D) builds expensive machinery that is used in oil drilling

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Jadon Horne

12 March, 20:27

How does OPEC affect the price of oil? OPEC

A) regulates the oil production and supply on the world's market

B) divides the profits from oil among all Middle Eastern countries.

C) sells and buys land that contains oil deposits

D) builds expensive machinery that is used in oil drilling

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Jayden Henry · Answer 1

A) regulates the oil production and supply on the world's market

In the short term, the Organization of Petroleum-Exporting Countries (OPEC) has significant influence on the price of oil ... For example, if OPEC countries are unsatisfied with the price of oil, it is in their interests to cut the supply of oil so prices rise.

How does OPEC affect the price of oil? OPECA) regulates the oil production and supply on the world's marketB) divides the profits from oil among all Middle Eastern countries.C) sells and buys land that contains oil depositsD) builds expensive machinery that is used in oil drilling

How does OPEC affect the price of oil? OPEC

A) regulates the oil production and supply on the world's market

B) divides the profits from oil among all Middle Eastern countries.

C) sells and buys land that contains oil deposits

D) builds expensive machinery that is used in oil drilling