CLEP Business Law

Category - Legal Envrmt

Which of the following countries are members of the Organization of the Petroleum Exporting Countries (OPEC)?
  1. Algeria, Iran, Nigeria, and Qatar.
  2. United States, Great Britain, Algeria, and Iran.
  3. United States, Iran, Iraq, and Kuwait.
  4. Panama, Venezuela, Mexico, and Iran.
  5. Canada, Iran, Kuwait and Ghana.
Explanation
Answer: A. Algeria, Iran, Nigeria, and Qatar are members of the Organization of the Petroleum Exporting Countries (OPEC). OPEC is an international cartel. It was founded in Baghdad in 1960 and now has 12 member countries.
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