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Oil and gasoline prices



The following questions are included in the quiz:

1. In which of these four countries gasoline is cheapest?
  1.  Nigeria
  2.  Russia
  3.  Egypt
  4.  Kuwait

2. What country has the largest oil reserves?
  1.  Saudi Arabia
  2.  Russia
  3.  United Arab Emirates
  4.  Venezuela

3. How much more gasoline does the U.S. consume per year compared to China?
  1.  They are about the same
  2.  About 3 times more
  3.  About 5 times more
  4.  About 10 times more

4. One barrel of oil is about:
  1.  About 120 liters
  2.  About 140 liters
  3.  About 160 liters
  4.  About 180 liters
  5.  About 200 liters

5. The headquarters of OPEC are in:
  1.  Paris
  2.  Geneva
  3.  Dubai
  4.  London
  5.  Vienna

6. What country is NOT a member of OPEC?
  1.  Russia
  2.  Angola
  3.  Ecuador
  4.  Venezuela
  5.  Qatar
  6.  Algeria

7. What is the largest oil company in the world?
  1.  Gazprom
  2.  British Petroleum (BP)
  3.  Saudi Aramco
  4.  ExxonMobil
  5.  Shell

8. Looking on average across the world, gasoline is cheaper than diesel fuel?
  1.  True
  2.  False
  3.  They are about the same

9. In the US, a 10% decrease in crude oil prices leads to a:
  1.  10% decrease in retail gasoline prices
  2.  7% decrease in retail gasoline prices
  3.  3% decrease in retail gasoline prices
  4.  1% decrease in retail gasoline prices

10. In Western Europe, a 10% decrease in crude oil prices leads to a:
  1.  10% decrease in retail gasoline prices
  2.  7% decrease in retail gasoline prices
  3.  3% decrease in retail gasoline prices
  4.  1% decrease in retail gasoline prices

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