GMAT Critical Reasoning
Home > GMAT Test > GMAT Critical Reasoning Questions
Next steps
- Use your browser's back button to return to your test results.
- Do more GMAT Critical Reasoning Questions.
Source: OG
Level: 3
If there is an oil-supply disruption resulting in higher international oil prices, domestic oil prices in open-market counties such as the United States will rise as well, whether such countries import all or none of their oil.
Which of the following conclusions is best supported by the statement above?
- A Domestic producers of oil in open-market countries are excluded from the international oil market when there is a disruption in the international oil supply.
- B International oil-supply disruptions have little, if any, effect on the price of domestic oil as long as an open-market country has domestic supplies capable of meeting domestic demand.
- C The oil market in an open-market country is actually part of the international oil market, even-f most of that country's domestic oil is usually sold to consumers within its borders.
- D Open-market countries that export little or none of their oil can maintain stable domestic oil prices even when international oil prices rise sharply.
- E If international oil prices rise, domestic distributors of oil in open-market countries will begin to import more oil than they export.