The Organization of Petroleum Exporting Countries (OPEC) plays a significant role in global energy markets. Which of the following statements best describes OPEC's objectives and functions?
1
OPEC aims to maintain stable oil prices through coordinated production quotas and supply management strategies, promoting the interests of both oil-producing and oil-consuming nations.
2
OPEC seeks to monopolize global oil reserves and dictate prices to maximize profits for its member states, often at the expense of consumer countries.
3
OPEC focuses on environmental conservation and renewable energy initiatives, advocating for a transition away from fossil fuels to address climate change concerns.
4
OPEC prioritizes geopolitical goals and strategic alliances, using oil as a tool for exerting influence and achieving political objectives in the international arena.