Question : Which of the following is an example of a Cartel?
Option 1: OPEC
Option 2: IMF
Option 3: WTO
Option 4: UNO
Correct Answer: OPEC
Solution : The correct option is OPEC .
On September 14, 1960, in Baghdad, the Organisation of the Petroleum Exporting Countries (OPEC) was formed. It is an organisation that promotes cooperation among prominent nations that produce petroleum to influence the global oil market as a whole and boost revenues. The OPEC's main office is in Vienna, Austria. 13 of the top oil-producing countries in the world are members of OPEC.
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