The OPEC Organization of Petroleum Exporting Countries is an example of which of the following types...........

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The OPEC (Organization of Petroleum Exporting Countries) is an example of which of the following types of Market?

Monopoly

Oligopoly

Perfect Competition

None

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Explanation:

As of 2018, the 15 countries accounted for an estimated 44 percent of global oil production and 81.5 percent of the world’s “proven” oil reserves, giving . OPEC a major influence on global oil prices that were previously determined by the American-dominated so-called “Seven Sisters” grouping of multinational
oil companies.