What is the difference between the OPEC & APEC in terms of their functions?
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The OPEC members own about 80% of the oil reserves in the world. ... The main difference between these two organizations is that the OPEC is open for any country that produces oil in a large scale, while the OAPEC is only opened to Arab countries that produce oil.
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Answer:★The group has agreed to define OPEC's mission thusly: “to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic, and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital ..
Answer:★The group has agreed to define OPEC's mission thusly: “to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic, and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital ..★It aim to create greater prosperity for the people of the region by promoting balanced, inclusive, sustainable, innovative and secure growth and by accelerating regional economic integration. One of the major functions of APEC is to enhance social equity in the region.
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