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Why do the countries belonging to OPEC avoid producing too much oil at one time?

A. They are concerned about the harm caused by the use of too many fossil fuels.

B. They are fearful that they will not be able to transport excess oil to foreign markets.

C. They are fearful that too much oil production will result in non-OPEC nations attempting to steal abundant oil supplies.

D. They are concerned that too much oil production will cause the price of oil to go down, resulting in lower profits.

Sagot :

GinnyAnswer

Final answer:

OPEC countries limit oil production to prevent price decreases and maintain profits, impacting global oil prices.


Explanation:

OPEC countries avoid producing too much oil at one time primarily because they are concerned that too much production will lead to a decrease in oil prices, resulting in lower profits. By controlling the supply of oil, they aim to influence and stabilize oil prices in the global market. For example, in 1973 and 1974, when OPEC reduced oil sales, it caused oil prices to spike, showing the impact of supply manipulation on prices.


Learn more about OPEC oil production and pricing here:

https://brainly.com/question/32266526


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