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Question
What is the difference between the OPEC and APEC in terms of their functions?
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Solution
| Sr no. | OPEC | APEC |
| 1. | It is the organisation of petroleum exporting countries. | It is Asia-Pacific Economic Cooperation. |
| 2. | Controlling the international trade of crude oil. | Free trade and economic cooperation in the Asia-Pacific Ocean region. |
| 3. | Controlling the rates of crude oil production among member states. | Promoting regional and technical cooperation among members. |
| 4. | Maintaining consensus in oil export. | Coordinating technical and economic cooperation among the member states. |
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