The Beginning of the End for OPEC

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Business, Architecture
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University
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Hard
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was the primary reason for OPEC's significant influence during the 1973 oil embargo?
OPEC's investment in renewable energy
OPEC's collaboration with non-OPEC countries
OPEC's control over more than half of the world's oil production
OPEC's technological advancements
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How did global oil dynamics change by the mid-1980s?
Global oil demand decreased significantly
Oil prices remained stable
OPEC's market control decreased to less than 30%
OPEC increased its market share
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What event in 2008 marked a significant change in U.S. oil production?
A decrease in global oil demand
The resurgence of U.S. oil production due to shale resources
The discovery of new oil fields in the Middle East
A new oil embargo
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What challenge does OPEC face with the rise of shale oil production?
Shale oil is only available in limited regions
Shale oil has a lower environmental impact
Shale oil producers can quickly fill market gaps
Shale oil is more expensive to produce
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What internal issue is affecting OPEC's cohesion?
Technological disparities among members
Economic sanctions on all members
Conflicts between key members like Saudi Arabia and Iran
A unified strategy for renewable energy
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