Which organization is known for coordinating oil-rich developing countries to gain greater control over their resources?

• A. OPEC
• B. IMF
• C. G77
• D. WTO

Answer: (A)

Coordinating oil-rich producers to gain greater control over their resources centers on organizing supply to influence prices and revenues. OPEC is the organization that brings together oil-exporting countries to manage petroleum policies, using tools like production quotas to balance supply and demand and stabilize prices. By agreeing on how much oil to produce among member nations, they can affect market availability and, in turn, the revenues and sovereignty those countries can secure from their oil resources. This focus on collective control over oil production and pricing aligns with the goals of oil-rich developing countries seeking greater influence over their resources.

Other groups have different purposes: the IMF deals with monetary stability and lending conditions, not resource control; the G77 is a broad coalition of developing countries within the UN aimed at economic cooperation, not direct control of oil production; and the WTO governs international trade rules rather than coordinating resource extraction or ownership.