Bissoy.com
Doctors Medicines MCQs Q&A

Whichof the following organizations control the price of crude oil in the global market?

Whichof the following organizations control the price of crude oil in the global market? Correct Answer OPEC

Related Questions

The following sentences form a paragraph. They are numbered a P, Q, R and S. These four parts are not given in their proper order. Read the sentences and choose the alternative that arranges them in a correct order. P. This has led to a fall in value of the foreign reserves and also faces frequent disturbance during the rise in crude oil prices. Q. India is dependent on imports of petroleum, where around 82 percent of its crude oil requirement is derived from the Middle East. R. The rising number of automobiles has also raised the increase in consumption, where the crude oil import volume amounted to approximately 217 million metric tons during the year 2018. S. In order to contain the rise, the government and other economic experts have raised the cause of the bio-fuel as a replacement for the crude oil.
A statement is given below in the question followed by three courses of actions numbered I, II and III. On the basis of the information given, you have to assume everything in the statement to be true, and then decide which of the following suggested courses of actions logically follow(s) for pursuing. Statement: Hindustan Unilever and Nestlé plan to selectively increase prices of their products to take into account higher crude oil and petrol costs, the rupee’s depreciation against the dollar and more expensive commodities such as wheat. If crude remains where it is and if the rupee has depreciated, of course, there are headwinds as far as costs are concerned. I. Nestlé India’s logistics providers are looking to renegotiate rates after record-high petrol and diesel prices. Nestlé declined to comment on when and by how much prices would increase.  II. Nestlé commented that HUL had dropped prices in November after the Goods & Services Tax was introduced last year and an increase in prices now would likely not hurt consumers.  III. Petrol prices have crossed Rs 90 a litre in Mumbai on increasing global prices of crude oil, of which India is a net importer, further impacted by the falling rupee. Crude derivatives, which are key inputs for FMCG companies, and petroleum derivatives used in packaging material including bottles and tubes, have also become more expensive.
Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it.
Modern civilization is completely dependent on energy, which has therefore to be abundant and also economical. About 85% of the world's energy is supplied by oil, coal and natural gas while nuclear, hydro, wind and solar power and biomass supply the rest. Coal, nuclear and hydro are used primarily to generate electricity while natural gas is widely used for heating. Biomass is used both for heating and cooking. The wind and solar power is the future's hope as they are sustainable energy sources. Oil powers almost all machines that move and that makes oil uniquely versatile. Oil powered airplanes carry 500 people across the widest oceans at nearly the speed of sound. Oil powered machines produce and transport food. Oil powered machines are ubiquitous. Clearly, we live in the age of oil but it is drawing to a close. According to data available if oil production remains constant until it's gone, there is enough to last 42 years. Oil wells will produce less as they become depleted, which will make it impossible to keep production constant. Similarly natural gas and coal will last another 61 years and 133 years respectively. Naturally, as they become scarce, they become expensive, leading to a worldwide energy crisis. If we are to survive on this planet, we have to make a transition to sustainable energy sources. The transition may be willy-nilly or planned - the choice is ours. The dawning era of limited and expensive energy will be very difficult for everyone on earth but will be even more difficult if it is not anticipated. It is of utmost importance that the public and policymakers understand the global energy crisis and act in tandem to ensure that the species 'homo sapiens' does not become extinct. The theme of the passage is
Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it.
Modern civilization is completely dependent on energy, which has therefore to be abundant and also economical. About 85% of the world's energy is supplied by oil, coal and natural gas while nuclear, hydro, wind and solar power and biomass supply the rest. Coal, nuclear and hydro are used primarily to generate electricity while natural gas is widely used for heating. Biomass is used both for heating and cooking. The wind and solar power is the future's hope as they are sustainable energy sources. Oil powers almost all machines that move and that makes oil uniquely versatile. Oil powered airplanes carry 500 people across the widest oceans at nearly the speed of sound. Oil powered machines produce and transport food. Oil powered machines are ubiquitous. Clearly, we live in the age of oil but it is drawing to a close. According to data available if oil production remains constant until it's gone, there is enough to last 42 years. Oil wells will produce less as they become depleted, which will make it impossible to keep production constant. Similarly natural gas and coal will last another 61 years and 133 years respectively. Naturally, as they become scarce, they become expensive, leading to a worldwide energy crisis. If we are to survive on this planet, we have to make a transition to sustainable energy sources. The transition may be willy-nilly or planned - the choice is ours. The dawning era of limited and expensive energy will be very difficult for everyone on earth but will be even more difficult if it is not anticipated. It is of utmost importance that the public and policymakers understand the global energy crisis and act in tandem to ensure that the species 'homo sapiens' does not become extinct. Biomass is an energy source used in
Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it.
Modern civilisation is completely dependent on energy, which has therefore to be abundant and also economical. About 85% of the world's energy is supplied by oil, coal and natural gas while nuclear, hydro, wind and solar power and biomass supply the rest. Coal, nuclear and hydro are used primarily to generate electricity while natural gas is widely used for heating. Biomass is used both for heating and cooking. The wind and solar power is the future's hope as they are sustainable energy sources. Oil powers almost all machines that move and that makes oil uniquely versatile. Oil powered airplanes carry 500 people across the widest oceans at nearly the speed of sound. Oil powered machines produce and transport food. Oil powered machines are ubiquitous. Clearly, we live in the age of oil but it is drawing to a close. According to data available if oil production remains constant until it's gone, there is enough to last 42 years. Oil wells will produce less as they become depleted, which will make it impossible to keep production constant. Similarly natural gas and coal will last another 61 years and 133 years respectively. Naturally, as they become scarce, they become expensive, leading to a worldwide energy crisis. If we are to survive on this planet, we have to make a transition to sustainable energy sources. The transition may be willy-nilly or planned - the choice is ours. The dawning era of limited and expensive energy will be very difficult for everyone on earth but will be even more difficult if it is not anticipated. It is of utmost importance that the public and policymakers understand the global energy crisis and act in tandem to ensure that the species 'homo sapiens' does not become extinct. The synonym for Ubiquitous is
Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it.
Modern civilisation is completely dependent on energy, which has therefore to be abundant and also economical. About 85% of the world's energy is supplied by oil, coal and natural gas while nuclear, hydro, wind and solar power and biomass supply the rest. Coal, nuclear and hydro are used primarily to generate electricity while natural gas is widely used for heating. Biomass is used both for heating and cooking. The wind and solar power is the future's hope as they are sustainable energy sources. Oil powers almost all machines that move and that makes oil uniquely versatile. Oil powered airplanes carry 500 people across the widest oceans at nearly the speed of sound. Oil powered machines produce and transport food. Oil powered machines are ubiquitous. Clearly, we live in the age of oil but it is drawing to a close. According to data available if oil production remains constant until it's gone, there is enough to last 42 years. Oil wells will produce less as they become depleted, which will make it impossible to keep production constant. Similarly natural gas and coal will last another 61 years and 133 years respectively. Naturally, as they become scarce, they become expensive, leading to a worldwide energy crisis. If we are to survive on this planet, we have to make a transition to sustainable energy sources. The transition may be willy-nilly or planned - the choice is ours. The dawning era of limited and expensive energy will be very difficult for everyone on earth but will be even more difficult if it is not anticipated. It is of utmost importance that the public and policymakers understand the global energy crisis and act in tandem to ensure that the species 'homo sapiens' does not become extinct. The energy sources of the future are
Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it.
Modern civilisation is completely dependent on energy, which has therefore to be abundant and also economical. About 85% of the world's energy is supplied by oil, coal and natural gas while nuclear, hydro, wind and solar power and biomass supply the rest. Coal, nuclear and hydro are used primarily to generate electricity while natural gas is widely used for heating. Biomass is used both for heating and cooking. The wind and solar power is the future's hope as they are sustainable energy sources. Oil powers almost all machines that move and that makes oil uniquely versatile. Oil powered airplanes carry 500 people across the widest oceans at nearly the speed of sound. Oil powered machines produce and transport food. Oil powered machines are ubiquitous. Clearly, we live in the age of oil but it is drawing to a close. According to data available if oil production remains constant until it's gone, there is enough to last 42 years. Oil wells will produce less as they become depleted, which will make it impossible to keep production constant. Similarly natural gas and coal will last another 61 years and 133 years respectively. Naturally, as they become scarce, they become expensive, leading to a worldwide energy crisis. If we are to survive on this planet, we have to make a transition to sustainable energy sources. The transition may be willy-nilly or planned - the choice is ours. The dawning era of limited and expensive energy will be very difficult for everyone on earth but will be even more difficult if it is not anticipated. It is of utmost importance that the public and policymakers understand the global energy crisis and act in tandem to ensure that the species 'homo sapiens' does not become extinct. The survival of mankind will depend on
Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it.
Crude mineral oil comes out of the earth as a thick brown or black liquid with a strong smell. It is a complex mixture of many different substances, each with its own individual qualities. Most of them are combinations of hydrogen and carbon in varying proportions. Such hydrocarbons are also found in other forms such as bitumen, asphalt and natural gas. Mineral oil originates from the carcasses of tiny animals and from plants that live in the sea. Over million of years, these dead creatures form large deposits under sea­bed and ocean currents cover them with a blanket of sand and silt. As this material hardens, it becomes sedimentary rock and effectively shuts out the oxygen, thus preventing the complete decomposition of the marine deposits underneath. The layers of sedimentary rocks become thicker, and heavier. Their pressure produces heat, which transforms the tiny carcasses into crude oil in a process that is still going on today.
How does crude oil come out of the earth ?
Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it.
Crude mineral oil comes out of the earth as a thick brown or black liquid with a strong smell. It is a complex mixture of many different substances, each with its own individual qualities. Most of them are combinations of hydrogen and carbon in varying proportions. Such hydrocarbons are also found in other forms such as bitumen, asphalt and natural gas. Mineral oil originates from the carcasses of tiny animals and from plants that live in the sea. Over million of years, these dead creatures form large deposits under sea­bed and ocean currents cover them with a blanket of sand and silt. As this material hardens, it becomes sedimentary rock and effectively shuts out the oxygen, thus preventing the complete decomposition of the marine deposits underneath. The layers of sedimentary rocks become thicker, and heavier. Their pressure produces heat, which transforms the tiny carcasses into crude oil in a process that is still going on today.
What is crude mineral oil?
One of Iran’s biggest oil buyers said it has enough alternative sources of crude to replace any supplies cut off by U.S. sanctions on the Persian Gulf state even if shipments stop completely. Indian Oil Corp. Chairman Sanjiv Singh says Saudi Arabia alone can cover most of the world’s supply shortfall in case Iran’s oil exports dry up. Also a narrowing spread between Brent crude and Dubai oil gives Indian Oil even more options, the head of the state-run refiner known as IOC, one of Iran’s largest customers, said in an interview. Which of the following can be logically inferred from the statement above?