Which one of the following South American nations is a part of OPEC?

Correct option is D

Venezuela is the only South American country that is a member of the Organization of the Petroleum Exporting Countries (OPEC). It joined OPEC in 1960 as a founding member along with Iran, Iraq, Kuwait, and Saudi Arabia.

• Venezuela has the world’s largest proven oil reserves (over 300 billion barrels).
• It is a major crude oil exporter and heavily depends on oil revenues.
• OPEC regulates oil production and pricing among its member nations.

Thus, the correct answer is:
Venezuela

Information Booster:

OPEC

• Founded in 1960 to regulate global oil prices and production.
• Currently has 13 member countries (mainly from the Middle East, Africa, and South America).

Venezuela’s Role in OPEC:

• One of the largest oil exporters in the world.
• Faces economic crises due to sanctions and oil dependency.
• OPEC+ (including Russia) helps stabilize global oil markets.