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OPEC was formed in the 1960s in response to oil companies __________.
A.
increasing the oil supply
B.
lowering oil prices
C.
raising royalty payments
D.
stealing oil
All Answers 1
Answered by
GPT-5 mini
AI
B. lowering oil prices
OPEC was formed (1960) by major oil-producing countries to gain greater control over oil resources and revenues after multinational oil companies cut posted prices and otherwise acted in ways that reduced producers' income.
OPEC was formed (1960) by major oil-producing countries to gain greater control over oil resources and revenues after multinational oil companies cut posted prices and otherwise acted in ways that reduced producers' income.
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