What happens when OPEC reduces the production of oil?

1 answer:

4 0

What happens when OPEC reduces the production of oil is the price of oil increases throughout the world. This is further explained below.

Generally, OPEC is simply defined as the Organization of the Petroleum Exporting Countries (OPEC) is an international organization, founded at the Baghdad Conference that focuses on oil.

In conclusion, The global price of oil rises when OPEC cuts supply.

You might be interested in

Name an advanced manufacturing company in Louisiana.<br> ANSWER ASAP ‼️

ValentinkaMS [17]

Answer: Mariucci Sports. 5818 McCann Dr. Baton Rouge

Explanation:

hope you find what you looking for

4 0

2 years ago

Read 2 more answers

A push factor is best defined as

Pani-rosa [81]

A push factor is best defined as factors that makes you leave your country.

8 0

3 years ago

Which european power expanded into brazil

antoniya [11.8K]

Answer: Portugal
Explanation: In 1494, the two kingdoms of the Iberian Peninsula divided the New World between them (in the Treaty of Tordesillas), and in 1500 navigator Pedro Álvares Cabral landed in what is now Brazil and laid claim to it in the name of King Manuel I of Portugal.

6 0

3 years ago

Read 2 more answers

What led to the growth of government in ancient egypt?

Leni [432]

It is a reed plant that was used to make baskets, sandals, river rafts, and paper.

7 0

2 years ago

Question 7 of 10

tatyana61 [14]

Answer:

C. The Republican Party

Explanation:

Please mark brainliest!

3 0

2 years ago