OPEC - GS questions based on daily current affairs

1)   Which of the following are not members of OPEC?

1. Venezuela
2. Mexico
3. Russia
4. Iran

a. Only 3
b. 1,2,3
c. 2 and 3
d. All
Answer  Explanation 

ANSWER: 2 and 3

Explanation:
- Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela are members of OPEC.
- OPEC sets production targets for its member nations.
- OPEC is an international organization headquartered in Vienna, Austria.
- OPEC was founded by five petroleum-exporting nations at a conference held 10–14 September 1960 in Baghdad, Iraq
2)   Consider the following statements about OPEC

1. OPEC is headquartered in Vienna, Austria.
2. Iran is member of OPEC.

Which of the above statements is/are correct?

a. Only 1
b. Only 2
c. Both
d. None
Answer  Explanation 

ANSWER: Both

Explanation:
Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela are members of OPEC. OPEC sets production targets for its member nations.

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