one objective of organisation of patroleum exporting countries (OPEC) is to?

Step 1: Analyze the question The question asks for one objective of OPEC (Organization of the Petroleum Exporting Countries).

Step 2: Explain the concept OPEC was founded in 1960 (Baghdad) by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Nigeria joined in 1971. Its main aims are:

• To coordinate and unify petroleum policies among member countries
• To stabilize oil markets and prices, so that producers earn a steady income
• To ensure a regular, efficient supply of oil to consumers
• To give producers a fair return on their investment

Step 3: Evaluate each option

• A. Harmonize and stabilize oil prices: Correct. This is a core objective of OPEC, achieved by coordinating production quotas.
• B. Ensure excess supply of oil to consuming countries: Wrong. OPEC aims for a steady supply, not an excess. Excess supply would push prices down, which works against the member countries' interests.
• C. Subsidize oil prices in member countries: Wrong. Domestic subsidies are decided by each government, not by OPEC.
• D. Assist member countries to exploit oil resources: This sounds plausible, but it is not an official OPEC objective. OPEC coordinates policy and prices, and does not carry out exploitation on behalf of members. Each country develops its own resources.

Step 4: Answer

Tip: Think of OPEC as a "price and policy coordinator." If an option mentions stabilizing prices, coordinating policies or regulating output, it is likely the right one. Be wary of options with words like "excess" or "subsidize."