Question

Read the following passage carefully and answer the given questions. Certain words/phrases are given in bold to help you locate them while answering some of the questions.
Which of the following is not true in the context of the passage?
A. OPEC was established in 1970 to protect the interests of oil importing countries.
B. When demand for oil exceeds supply, there is a sharp rise in price.
C. Today futures trading markets set the oil prices to a large extent.

• A. Only A
• B. Only C
• C. A and C
• D. Only B
• E. None of these.

Answer 1

The correct option is A Only A

OPEC was established in 1970 to protect the interests of oil importing countries is not true.