Directions:
There are 2 passages in this section. Each passage is followed by some questions or unfinished sentences.
For each of them there are four choices marked A), B), C) and D). You should decide on the best choice.
Passage One
Questions 21 to 25 are based on the following passage.
The price of oil has risen to more than 120 dollars a barrel. Some experts say the most recent price increase is only the beginning. Experts at the investment bank, Goldman Sachs, have predicted that oil could reach 200 dollars a barrel.
Unrest in oil producing countries has been partly to blame. Last weekend, a rebel group in Nigeria said it had attacked an oil center in Bayelsa state. Nigeria is the 8th biggest oil exporter in the world. Also, Iraq is slowly re-building its oil production ability. Iraq’s industry minister says that the country’s oil production is currently at about 2 million barrels of oil a day. He says that could increase to 5 million barrels of oil a day in two to three years, depending on how much foreign help Iraq receives. The Venezuelan government’s efforts to control its oil industry have in-creased tensions with foreign oil producers. And Russia, the world’s 2nd largest exporter, has also sought to in-crease government control of its energy resources. Nationalization of oil resources often forces out foreign investment that would normally seek to increase supplies.
Another cause of high oil prices is the weak American dollar. Oil is traded in dollars, so a less valuable dollar buys less oil. But experts have noted that the weak dollar alone cannot explain the increase of about 85% in the price of oil over the last year.
The Organization of Petroleum Exporting Countries(OPEC) is the world’s largest oil producing group. It says its member nations like Kuwait, Venezuela and Nigeria, not including Iraq, are investing 120 billion dollars in over 100 new oil projects. OPEC says it produces about 45% of the world’s oil exports. In the past, non-OPEC producers like Russia, Mexico and Norway, have increased production to meet demand. But these nations have struggled to keep production at the levels of recent years. Norway’s production, for example, has decreased by 25% since 2001.
The expanding economies of Asia, especially China and India, have increased pressure on world supplies. Meeting demand appears to be harder than ever before.
21. What can we know about OPEC?
A) It is a company that invests money in oil producing countries.
B) It is the world’s largest oil producing group.
C) It is the world’s largest oil producing country.
D) It is a company that exports oil to other countries.
22. What can we learn from the fourth paragraph?
A) Unrest in oil producing countries is one reason for the increase in oil prices.
B) Another cause of high oil prices is the weak American dollar.
C) OPEC says it produces about fifty-four percent of the world’s oil exports.
D) Some non-OPEC producers can’t produce all the oil they need.
23. Which of the following are OPEC member nations?
A) Nigeria, Venezuela and Norway.
B) Nigeria, Venezuela and Russia.
C) Russia, Mexico and Norway.
D) Nigeria, Venezuela and Kuwait.
24. What can we learn from this passage?
A) Some experts say oil prices will go down soon.
B) If Iraq got more help from foreign countries, it would increase its oil production.
C) Now, the same amount of dollars can buy more oil than before.
D) OPEC is not active in dealing with the oil problems.
25. What can we learn from the last paragraph?
A) China and India are developed countries in Asia.
B) China and India have increased pressure on the world economy.
C) To meet the oil demand of the whole world appears to be harder than ever before.
D) It is becoming harder and harder for countries to come to an agreement.
There are 2 passages in this section. Each passage is followed by some questions or unfinished sentences.
For each of them there are four choices marked A), B), C) and D). You should decide on the best choice.
Passage One
Questions 21 to 25 are based on the following passage.
The price of oil has risen to more than 120 dollars a barrel. Some experts say the most recent price increase is only the beginning. Experts at the investment bank, Goldman Sachs, have predicted that oil could reach 200 dollars a barrel.
Unrest in oil producing countries has been partly to blame. Last weekend, a rebel group in Nigeria said it had attacked an oil center in Bayelsa state. Nigeria is the 8th biggest oil exporter in the world. Also, Iraq is slowly re-building its oil production ability. Iraq’s industry minister says that the country’s oil production is currently at about 2 million barrels of oil a day. He says that could increase to 5 million barrels of oil a day in two to three years, depending on how much foreign help Iraq receives. The Venezuelan government’s efforts to control its oil industry have in-creased tensions with foreign oil producers. And Russia, the world’s 2nd largest exporter, has also sought to in-crease government control of its energy resources. Nationalization of oil resources often forces out foreign investment that would normally seek to increase supplies.
Another cause of high oil prices is the weak American dollar. Oil is traded in dollars, so a less valuable dollar buys less oil. But experts have noted that the weak dollar alone cannot explain the increase of about 85% in the price of oil over the last year.
The Organization of Petroleum Exporting Countries(OPEC) is the world’s largest oil producing group. It says its member nations like Kuwait, Venezuela and Nigeria, not including Iraq, are investing 120 billion dollars in over 100 new oil projects. OPEC says it produces about 45% of the world’s oil exports. In the past, non-OPEC producers like Russia, Mexico and Norway, have increased production to meet demand. But these nations have struggled to keep production at the levels of recent years. Norway’s production, for example, has decreased by 25% since 2001.
The expanding economies of Asia, especially China and India, have increased pressure on world supplies. Meeting demand appears to be harder than ever before.
21. What can we know about OPEC?
A) It is a company that invests money in oil producing countries.
B) It is the world’s largest oil producing group.
C) It is the world’s largest oil producing country.
D) It is a company that exports oil to other countries.
22. What can we learn from the fourth paragraph?
A) Unrest in oil producing countries is one reason for the increase in oil prices.
B) Another cause of high oil prices is the weak American dollar.
C) OPEC says it produces about fifty-four percent of the world’s oil exports.
D) Some non-OPEC producers can’t produce all the oil they need.
23. Which of the following are OPEC member nations?
A) Nigeria, Venezuela and Norway.
B) Nigeria, Venezuela and Russia.
C) Russia, Mexico and Norway.
D) Nigeria, Venezuela and Kuwait.
24. What can we learn from this passage?
A) Some experts say oil prices will go down soon.
B) If Iraq got more help from foreign countries, it would increase its oil production.
C) Now, the same amount of dollars can buy more oil than before.
D) OPEC is not active in dealing with the oil problems.
25. What can we learn from the last paragraph?
A) China and India are developed countries in Asia.
B) China and India have increased pressure on the world economy.
C) To meet the oil demand of the whole world appears to be harder than ever before.
D) It is becoming harder and harder for countries to come to an agreement.