Question

OPEC was formed in 1960 in order to A. coordinate the interests of producing countries by regulating oil prices. B. enhance oil and natural gas production technologies among member states. C. create a cartel that would control global oil supplies. D. negotiate the interests of OPEC member countries within the United Nations.

Answer 1

The correct answer is - A. coordinate the interest of producing countries by regulating oil prices.

OPEC is an organization that was formed with the purpose of coordinating the interest of the countries that produce oil and the price of the oil as well. It has a great importance as all the member countries are coordinating between themselves and go out on the market with the same prices, and the purpose of it is to not allow any country producer to take an advantage over the other ones by making the price of oil smaller and thus destroy their economies, but instead they all have to stick to the agreement between themselves, so that it is in everyone's best interest and instead of being competition to each other to go on the market as a unite.

Answer 2

A is the correct answer. 
They were formed to coordinate the interests of producing countries by regulating oil prices.