OPEC
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The Organization of the Petroleum Exporting Countries is an intergovernmental cartel enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence t
OPEC Conference delegates at Swissotel, Quito, Ecuador, December 2010
OPEC headquarters in Vienna
An undersupplied US gasoline station, closed during the oil embargo in 1973
A woman uses wood in a fireplace for heat. A newspaper headline in the foreground shows a story regarding a lack of heating oil in the community.
Cartel
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A cartel is a group of independent market participants who collaborate with each other and avoid competing with each other in order to improve their profits and dominate the market. They seek to limit
OPEC
…The Organization of the Petroleum Exporting Countries (OPEC OH-pek) is an intergovernmental cartel enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market and maximize…
Headquarters of the Rhenish-Westphalian Coal Syndicate, Germany (at times the best known cartel in the world), around 1910
The printing equipment company American Type Founders (ATF) explicitly states in its 1923 manual that its goal is to "discourage unhealthy competition" in the printing industry.