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What happens when OPEC reduces the production of oil?
A. The price of oil increases throughout the world.
B. Industrialized countries import more oil.
C. An oil embargo begins.
D. Oil supplies increase.

Respuesta :

okpalawalter8

What happens when OPEC reduces the production of oil is the price of oil increases throughout the world. This is further explained below.

What is OPEC?

Generally, OPEC is simply defined as the Organization of the Petroleum Exporting Countries (OPEC) is an international organization, founded at the Baghdad Conference that focuses on oil.

In conclusion, The global price of oil rises when OPEC cuts supply.

Read more about OPEC

https://brainly.com/question/14305745

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