Question

What happens to the price of oil when OPEC countries decide to limit production?

A) oil prices drop
B) oil prices raise
C) oil prices collapse
D) oil stops being sold

Answer 1

The Answer Is B) Oil Prices Raise

Answer 2

When OPEC countries decide to limit production what happens is option B) oil prices raise. The Organization of Petroleum-Exporting Countries (OPEC), has a great influence on the production and price of oil. If the countries are unsatisfied with the oil price, they decide to limit production and wait for the price to raise.