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How does the organization of petroleum exporting countries (OPEC) mostly influence the statistic shown by the graph

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Final answer:

The Organization of Petroleum Exporting Countries (OPEC) influences the statistics shown by the graph through its control over oil production and pricing.

Step-by-step explanation:

The Organization of Petroleum Exporting Countries (OPEC) mostly influences the statistics shown by the graph through its control over oil production and pricing. OPEC is a consortium of oil-producing countries that hold a significant portion of the world's oil reserves. By setting production quotas for its member countries and regulating the supply of oil in the market, OPEC can influence global oil prices.

For example, if OPEC decides to decrease its oil production, the supply of oil in the market decreases. This decrease in supply can lead to an increase in oil prices, as demand may outweigh the available oil. On the other hand, if OPEC increases its oil production, the market may experience a decrease in oil prices.

Therefore, the actions and decisions of OPEC have a direct impact on the supply and demand dynamics of the global oil market, which is reflected in the statistics and trends shown by the graph.

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