Which of the following is NOT a major role of OPEC in production, and marketing of petroleum?
- Stabilizing oil prices putting a production ceiling
-
Refining of petroleum products in member countries
- Raising the revenue of member countries from oil through price increase
- Ensuring efficient and regular supply of oil to the two market
The correct answer is: B
Explanation
The refining of petroleum products is not a major role of OPEC (Organization of the Petroleum Exporting Countries) in the production and marketing of petroleum. OPEC primarily focuses on coordinating and unifying petroleum policies among its member countries, ensuring the efficient and regular supply of oil to the global market, raising the revenue of member countries through price increases, and stabilizing oil prices.