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How can it possibly cope with all that oil? (4)

Ross

I believe the answer is:

opec

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'oil?' is the definition.
Although both the answer and definition are singular nouns, I cannot understand how one could define the other.

'how can it possibly cope with all' is the wordplay.
'cope' can be anagrammed to 'OPEC'.
Though, I'm not clear how the anagram is indicated.

'that' is the link.

Can you help me to learn more?

(Other definitions for opec that I've seen before include "[CRUDE OIL] suppliers?" , "Cartel of oil-producing countries" , "Organisation intended to control the production and sale of petroleum" , "Group of oil-producing countries" , "Group of countries with a common oil policy" .)

I've seen this clue in the Evening Standard.
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