Can someone please explain why all the Oil Producers sitting around a table agreeing to cut back production to raise prices is not a cartel.?
Surely it would be considered an anti-competitive collusion?
- random_manLv 74 years agoFavourite answer
It is a cartel. The whole point of it is anti-competitive collusion to maintain oil prices.
But there is no enforceable law against sovereign countries colluding with each other.
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