Which of the following is NOT a major role of OPEC in production, and marketing of petroleum?

Step 1: Analyze the question We need the option that is NOT a major role of OPEC (Organization of the Petroleum Exporting Countries) in the production and marketing of petroleum.

Step 2: Recall the concept OPEC was formed in 1960 (Baghdad) to coordinate and unify petroleum policies among member countries. Its main objectives are:

• Stabilizing oil prices in the international oil market, mainly through production quotas or ceilings
• Securing a fair and stable income for member countries
• Ensuring an efficient, economic and regular supply of petroleum to consuming nations
• Giving a fair return on capital to those investing in the industry

Step 3: Check each option

• A. Stabilizing oil prices by putting a production ceiling. This is a core OPEC function, done through production quotas.
• B. Refining of petroleum products in member countries. OPEC does not refine petroleum. Refining is done by national oil companies (such as NNPC in Nigeria) and private firms. OPEC is a coordinating body, not an operating or refining company.
• C. Raising the revenue of member countries through price increase. This fits OPEC's aim of securing good, stable income for members.
• D. Ensuring efficient and regular supply of oil to the market. This is an explicit OPEC objective.

Step 4: Answer Option B is not a role of OPEC.

Exam tip: OPEC is a policy-coordinating organization. It handles prices, quotas, and supply stability. When a question lists activities like refining, drilling or retailing, those are operational tasks for companies, so they are usually the "NOT" option.