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Government Past Questions and Answers

Topic: The Organization of Petroleum Exporting Countries (OPEC)

Jamb Government Questions - The Organization of Petroleum Exporting Countries (OPEC)

Question 6:
The major strategy used by OPEC to influence oil price is by
  • A Allocating production quotas to members
  • B Influencing buyers at the international market to buy at high prices
  • C Allowing member countries to produce at their discretion
  • D Increasing the supply of the commodity
View Answer & Explanation
Question 7:
Nigeria's relations with African countries are underscored by its policy of
  • A Non - alignment
  • B Afrocentrism
  • C Political diplomacy
  • D Peaceful co-existence
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Question 8:
One of the principal objectives of the OPEC is to
  • A Harmonize the oil policies of member countries
  • B Discipline erring oil - producing countries
  • C Determine oil prices in the international market
  • D Assist non -oil producing developing states
View Answer & Explanation
Question 9:
Nigeria's influence in OPEC is determined by the
  • A Volume of her oil revenue
  • B Sizes of her refineries
  • C Accesibility of her oil fields
  • D Low sulphur content of her crude
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Question 10:
The majority of the OPEC members are from
  • A Latin America
  • B The Middle East Countries
  • C Asia
  • D Africa
View Answer & Explanation