Which member of the Organization of the Petroleum Exporting Countries (OPEC) has announced that it will leave the 14-nation bloc from January 2020?

Which member of the Organization of the Petroleum Exporting Countries (OPEC) has announced that it will leave the 14-nation bloc from January 2020? Correct Answer Ecuador

  • Ecuador, one of the smallest members of the Organization of the Petroleum Exporting Countries (OPEC), said it will leave the 14-nation bloc from January 2020 due to fiscal problems.
  • Ecuador produces about 545,000 barrels per day (BPD) of crude oil.
  • Ecuador joined OPEC in 1973, withdrew in 1992, then rejoined in 2007.
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1st January, 600 units @ Rs. 12 per unit
12th January, 500 units @ Rs. 14 per unit
21st January, 300 units @ Rs. 13 per unit
Raw material issued for manufacture:
3rd January 300 units
5th January 124 units
15th January 250 units
16th January 300 units
Raw material returned to stores from manufacturing department on 14th January, 50 units. The material is issued on First-in-First out method.
The value of material remaining in store on 21st January will be:
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