Which of the following most accurately describes the motivations for forming the Organization of Petroleum Exporting Countries (OPEC)?(1 point)

Question

Responses

OPEC is the result of a system of treaties designed to allow free trade between member countries.
OPEC is the result of a system of treaties designed to allow free trade between member countries.

OPEC allows participating countries to participate in greater trade, ensuring their own access to oil.
OPEC allows participating countries to participate in greater trade, ensuring their own access to oil.

OPEC allows participating countries to coordinate oil policy, impacting the price of oil globally.
OPEC allows participating countries to coordinate oil policy, impacting the price of oil globally.

OPEC allows participating members to resolve political disputes between themselves.

Answer 1

The response that most accurately describes the motivations for forming the Organization of Petroleum Exporting Countries (OPEC) is:

OPEC allows participating countries to coordinate oil policy, impacting the price of oil globally.

This reflects OPEC's primary goal of managing the supply and pricing of oil to benefit its member countries economically.