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API stands for:

  1. American Petroleum Industry

  2. American Petroleum Institute

  3. Automotive Parts Institute

  4. Automotive Performance Index

The correct answer is: American Petroleum Institute

The correct answer is B. American Petroleum Institute. The American Petroleum Institute (API) is a trade association that represents the oil and natural gas industry in the United States. They develop standards for equipment and operations in the industry to ensure safety, efficiency, and environmental protection. Option A, American Petroleum Industry, is incorrect as the correct acronym is American Petroleum Institute. Options C and D, Automotive Parts Institute and Automotive Performance Index, are unrelated to the acronym API in the context of the oil and natural gas industry.