Test Your Knowledge About The Organization Of The Petroleum Exporting Countries

1. How many states are members of this organization?

14

16

18

20

There are 14 states that are members of the organization.

Explanation

There are 14 states that are members of the organization.

2. What's the currency used?

Euros

US Dollars

The Pound

The Rand

The correct answer is US Dollars because the question is asking about the currency used, and US Dollars is a widely recognized currency used in the United States and many other countries around the world.

Explanation

The correct answer is US Dollars because the question is asking about the currency used, and US Dollars is a widely recognized currency used in the United States and many other countries around the world.

3. Who is the current secretary general?

Idris Deby Itno

Mohammed Barkindo

Kofi annan

Ali Bongo Ondimba

Mohammed Barkindo is the current Secretary General.

Explanation

Mohammed Barkindo is the current Secretary General.

4. In what year was it founded?

In 1950

In 1958

In 1960

In 1962

The organization or entity in question was founded in the year 1960.

Explanation

The organization or entity in question was founded in the year 1960.

5. How many states founded this organization from the beginning?

3

5

7

9

The organization was founded by five states from the beginning.

Explanation

The organization was founded by five states from the beginning.

6. What's the other term for West Texas intermediate?

Texas light oil

Texas sweet

Texas light sweet

Texas light

The other term for West Texas Intermediate is Texas light sweet. This refers to a type of crude oil that is produced in the western region of Texas. It is called "light" because it has a relatively low density and "sweet" because it has a low sulfur content. This type of crude oil is highly sought after in the global market due to its high quality and low impurities, making it easier to refine into various petroleum products.

Explanation

The other term for West Texas Intermediate is Texas light sweet. This refers to a type of crude oil that is produced in the western region of Texas. It is called "light" because it has a relatively low density and "sweet" because it has a low sulfur content. This type of crude oil is highly sought after in the global market due to its high quality and low impurities, making it easier to refine into various petroleum products.

7. What's a crude oil benchmark?

It's a standardized petroleum product that serves a convenient reference price for buyers.

It's a petroleum product that serves a convenient price for buyers.

It's a product that serves a convenient reference price for buyers.

It's a standardized petroleum product for buyers.

A crude oil benchmark is a standardized petroleum product that serves as a convenient reference price for buyers. This means that it is a specific type of crude oil that is used as a benchmark to determine the price of other crude oils. It provides a common basis for pricing and trading in the oil market, allowing buyers and sellers to easily compare and negotiate prices.

Explanation

A crude oil benchmark is a standardized petroleum product that serves as a convenient reference price for buyers. This means that it is a specific type of crude oil that is used as a benchmark to determine the price of other crude oils. It provides a common basis for pricing and trading in the oil market, allowing buyers and sellers to easily compare and negotiate prices.

8. What's the other term for futurex exchange?

Futures market

Future market

Stock exchange

Exchange forum

The correct answer is "futures market." This term refers to a financial market where traders buy and sell futures contracts. These contracts are agreements to buy or sell a specific asset at a predetermined price and date in the future. The futures market allows participants to speculate on the future price movements of various assets, including commodities, currencies, and financial instruments. It provides a platform for hedging risks and for investors to profit from price fluctuations.

Explanation

The correct answer is "futures market." This term refers to a financial market where traders buy and sell futures contracts. These contracts are agreements to buy or sell a specific asset at a predetermined price and date in the future. The futures market allows participants to speculate on the future price movements of various assets, including commodities, currencies, and financial instruments. It provides a platform for hedging risks and for investors to profit from price fluctuations.

9. Which country submitted an application in 2015?

Saudi Arabia

Sudan

Gabon

Angola

Sudan is the correct answer because it is the country that submitted an application in 2015.

Explanation

Sudan is the correct answer because it is the country that submitted an application in 2015.

10. Which report is published by the OPEC annually?

The World Oil Outlook

The World Oil Report

The World state

The Oil Business State

The correct answer is "The World Oil Outlook." This report is published by the OPEC (Organization of the Petroleum Exporting Countries) on an annual basis. It provides a comprehensive analysis and forecast of the global oil market, including supply, demand, and price trends. The World Oil Outlook is a valuable resource for policymakers, industry professionals, and researchers in the energy sector, as it helps them understand the current state and future prospects of the oil industry.

Explanation

The correct answer is "The World Oil Outlook." This report is published by the OPEC (Organization of the Petroleum Exporting Countries) on an annual basis. It provides a comprehensive analysis and forecast of the global oil market, including supply, demand, and price trends. The World Oil Outlook is a valuable resource for policymakers, industry professionals, and researchers in the energy sector, as it helps them understand the current state and future prospects of the oil industry.