Q1. Consider the following statements regarding Venezuela's oil sector: 1. Venezuela holds the world's largest proven crude oil reserves. 2. Venezuelan crude reserves are predominantly light, sweet crude. 3. Petróleos de Venezuela S.A. (PDVSA) is Venezuela's state-owned oil company. 4. As an OPEC member, Venezuela is currently bound by OPEC+ production quotas like other members. Which of the statements given above is/are NOT correct?
- Venezuela holds the world's largest proven crude oil reserves.
- Venezuelan crude reserves are predominantly light, sweet crude.
- Petróleos de Venezuela S.A. (PDVSA) is Venezuela's state-owned oil company.
- As an OPEC member, Venezuela is currently bound by OPEC+ production quotas like other members.
- A. 1 and 3
- B. 2 and 4
- C. 1, 2 and 4
- D. 3 only