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OPEC


The Organization of Petroleum Exporting Countries


The following questions are included in the quiz:

1. When was the Organization of the Petroleum Exporting Countries founded?
  1.  1945
  2.  1960
  3.  1979
  4.  1971

2. Which of the following countries in not among the founding members of OPEC?
  1.  Iran
  2.  Kuwait
  3.  Qatar
  4.  Venezuela

3. In 1965 the headquarters of the OPEC were moved to Vienna, Austria. Where was it located before that?
  1.  Geneva, Switzerland
  2.  Brussels, Belgium
  3.  Dubai, United Arab Emirates
  4.  Baghdad, Iraq

4. How many countries are current members of the OPEC?
  1.  13
  2.  15
  3.  10
  4.  19

5. Which country rejoined the OPEC in early 2016?
  1.  Ecuador
  2.  Iran
  3.  Indonesia
  4.  Gabon

6. Which is the supreme authority of the OPEC?
  1.  The Secretariat
  2.  The Board of Governors
  3.  The Governing Council
  4.  The Conference

7. Which of the following petroleum blends is not included in the OPEC Basket?
  1.  Arab Light
  2.  Saharan Blend
  3.  Tapis Blend
  4.  Murban

8. In 2014, what share of the world’s proven crude oil reserves were located in OPEC member countries?
  1.  More than 80 percent with largest share held by Venezuela
  2.  More than 80 percent with largest share held by Saudi Arabia
  3.  Less than 80 percent with largest share held by Venezuela
  4.  Less than 80 percent with largest share held by Saudi Arabia

9. Compared to 2014, in 2015 the OPEC crude oil basket price:
  1.  Increased by 5 percent
  2.  Remained almost the same
  3.  Decreased by almost 50 percent
  4.  Decreased by 38 percent

10. Which OPEC member has the largest crude oil exports?
  1.  Algeria
  2.  Kuwait
  3.  Venezuela
  4.  Saudi Arabia

11. Which OPEC member returned to the international oil markets in January 2016 after years of economic isolation?
  1.  Iraq
  2.  Iran
  3.  Indonesia
  4.  Libya

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