Which term refers to the organization that coordinates oil production and influences global oil prices?

• A. IMF
• B. OPEC
• C. OAS
• D. NATO

Answer: (B)

Coordinating oil production to influence prices is the job of the Organization of the Petroleum Exporting Countries. OPEC brings together major oil-producing nations and sets production quotas for its members, aiming to manage the global oil supply. By approving how much oil to pump, it can nudge prices up or down in response to market conditions. This role—managing output to shape price signals—is what sets OPEC apart from the other organizations listed, whose missions are financial stability (IMF), regional political cooperation (OAS), or defense and security (NATO). Sometimes broader cooperation includes non-member producers as well, but the central idea remains to coordinate production to influence global oil prices.