Case Study: Organization of Petroleum Exporting Countries (OPEC) (AQA A-Level Geography): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
How many member countries does OPEC currently have?
How many member countries does OPEC currently have?
13 countries
What is a cartel?
What is a cartel?
A group controlling supply to influence price
How does OPEC attempt to push oil prices higher?
How does OPEC attempt to push oil prices higher?
By restricting the amount of oil available
What did the 1970s oil crisis prompt importing nations to develop?
What did the 1970s oil crisis prompt importing nations to develop?
Oil reserves in Alaska and the North Sea
Why did OPEC flood the market with oil in 2014-15?
Why did OPEC flood the market with oil in 2014-15?
To undercut expensive US shale oil production
Which OPEC members maintain strong ties with Western nations like the USA?
Which OPEC members maintain strong ties with Western nations like the USA?
Saudi Arabia and Kuwait
Why did Ecuador withdraw from OPEC in 2020?
Why did Ecuador withdraw from OPEC in 2020?
Production constraints deterred investors
What does OPEC+ refer to?
What does OPEC+ refer to?
OPEC cooperating with Russia and Mexico
How much was oil production reduced in the 2020 agreement brokered by the USA?
How much was oil production reduced in the 2020 agreement brokered by the USA?
9.7 million barrels per day
What percentage of global proven crude oil reserves did OPEC control at the end of 2018?
What percentage of global proven crude oil reserves did OPEC control at the end of 2018?
79.4%