Answers first, some detail later:
1. The international organization developed in 1960 to stabilize international oil prices and to oversee petroleum imports and investments is:
OPEC
2. The Middle East is a stable region with many peace treaties and no ongoing issues.
False
3. All of the following statements about oil in the Middle East are true except:
oil wealth is distributed equally among all of the citizens in oil rich countries
Some further details:
OPEC stands for the Organization of Petroleum Exporting Countries. Within that, there was also the Organization of Arab Petroleum Exporting Countries (OAPEC), formed in 1968. The Middle Eastern countries that are members of OPEC are also aligned in OAPEC.
The Middle Eastern countries with large oil deposits tend not to be open, democratic societies. Wealth is concentrated in the hands of a few, and the majority of the populations in their countries live in far from affluent conditions.
