Price stability in the international oil market is the major objective of the

1. Analyze the question The question asks which organization has price stability in the international oil market as its major objective. The key words are "price stability" and "oil market".

2. Explain the concept Different international organizations have different purposes:

• UN (United Nations): Promotes world peace, security, and international cooperation.
• WTO (World Trade Organization): Regulates and promotes international trade in general, and settles trade disputes. It does not focus on oil prices.
• OPEC (Organization of the Petroleum Exporting Countries): Founded in 1960 (Nigeria joined in 1971). It coordinates the petroleum policies of its member countries. It aims to ensure stable oil prices, a regular supply to consumers, and a fair return for producers. It does this by adjusting production quotas.
• AU (African Union): Promotes unity, development, and integration among African countries.

3. Step-by-step solution

• Step 1: Spot the keyword "oil market". This points to a petroleum-related body.
• Step 2: Only OPEC deals specifically with petroleum.
• Step 3: OPEC's main objective is to stabilize oil prices by coordinating member countries' production levels, which keeps the market stable for both producers and consumers.
• Step 4: Eliminate the others. The UN, WTO, and AU have broader mandates (peace, general trade, and African unity).

4. Answer The correct option is C. OPEC.

5. Exam tip Match the keyword to the organization:

• Oil → OPEC
• Trade → WTO
• Peace → UN
• African unity → AU

Nigeria is an OPEC member, so questions on OPEC appear often in JAMB Government. Remember its objectives: stable prices, steady supply, and fair returns.