Which of the following is not a member of OPEC?

Assessment: WAEC SSCE - Economics - 1990 (Objective) Subject: Economics

Question 1 Report

Which of the following is not a member of OPEC?
Answer Details
The country that is not a member of OPEC is Egypt. OPEC stands for the Organization of the Petroleum Exporting Countries, and it is a group of countries that work together to control the production and pricing of oil. OPEC was founded in 1960, and it currently has 13 member countries, including Iran, Venezuela, and the United Arab Emirates. Indonesia was once a member of OPEC, but it suspended its membership in 2016. Egypt, on the other hand, has never been a member of OPEC. While Egypt is a significant oil producer, it is not considered a major exporter of oil. Therefore, it is not a part of the OPEC group.
Read lesson note on Petroleum And The Nigerian Economy (JAMB)
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