Which of the Following Statements Is INCORRECT Regarding the Oil

Multiple Choice

Which of the following statements is INCORRECT regarding the oil futures market?

A) The organization of the Petroleum Exporting Countries (OPEC) exhibits market power,but it is not the only force affecting oil prices.
B) The global business cycle probably plays a more powerful role than OPEC in influencing oil prices.
C) Demand from developing countries like China and India can play a significant role in determining oil futures prices.
D) The presence of large players like OPEC and China makes it impossible for oil futures contracts to help in price discovery.
E) Due to the existence of numerous users and suppliers of oil,oil prices are volatile and oil futures can be successfully used by the hedgers.