Question

Help!

If OPEC decided to cut oil and gas production for the year, what would be the likely effect?

A. Prices would not change
B. Oil prices would probably decline
C. The price for substitute products would decline
D. Oil prices would probably rise​

Answer 1

B. Oil prices would probably decline

Answer 2

Answer: B

Step-by-step explanation: Last week, the Organization of the Petroleum Exporting Countries (OPEC) held a meeting to propose an agreement to limit the production of an additional 1.5 million barrels a day in the face of the world's first-quarter oil demand in the first quarter of 2020. , 8 million barrels a day compared to the same period last year, according to IHS Markit's forecast.