Question
What is the difference between the OPEC and APEC in terms of their functions?
| OPEC | APEC |
| (i) OPEC stands for Organisation of Petroleum Exporting Countries. | APEC stands for Asia-Pacific Economic Cooperation (APEC). |
| (ii) OPEC is the organisation of oil-producing and exporting countries. | APEC is the regional organisation of the countries in the Asia Pacific region. |
| (iii) It keeps control over the international trade of crude oil. | It promotes free trade and economic cooperation among the member countries. |
| (iv) It keeps control on the rates of crude oil production among member states. | It promotes regional and technical cooperation among members. |
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