What is the primary function of OPEC in the global oil market?
Negative Oil Prices - Explained: Oil in 2020

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Business, Architecture, Engineering
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7th - 12th Grade
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Hard
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To regulate oil consumption
To provide oil subsidies to member countries
To explore new oil reserves
To set rules around oil production
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why did Russia and OPEC start pumping oil excessively?
To support the global economy
To increase global oil reserves
To reduce environmental impact
To drive each other out of business
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was a significant factor that reduced the demand for oil during the market shutdown?
Increased oil production
Factories on lockdown and reduced travel
New oil discoveries
Government regulations on oil usage
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why can't gasoline prices drop to zero even if crude oil is free?
Gasoline is a renewable resource
Refining crude oil is costly
Gasoline is not in demand
Government controls the prices
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to petrol if it is exposed to air for too long?
It becomes more efficient
It goes bad
It increases in volume
It becomes non-toxic
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