What is the primary strategy of the OPEC cartel regarding oil production?

The primary strategy of the OPEC cartel regarding oil production focuses on controlling production levels to influence market prices. By managing how much oil is produced, OPEC aims to maintain a balance that allows them to keep prices elevated without discouraging major consumers from purchasing oil. This strategy helps stabilize the economies of member countries, which heavily rely on oil revenues.

Maintaining higher prices is crucial for OPEC members, as it supports their economic stability and funding for domestic programs. However, by not reducing production excessively, they also ensure that the market remains attractive to buyers, thus preventing a sharp decline in demand. This careful balance is central to OPEC's role in the global oil market.

While the other options mention prioritizing needs of developed or developing nations or quickly producing oil reserves, these ideas do not align with OPEC’s outlined strategy, which is primarily focused on price control and market stability. The approach of controlling production rather than flooding the market aligns more closely with OPEC's goals of maximizing revenue and maintaining economic stability for its member countries.