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Noddy asked in Politics & GovernmentPolitics · 4 years ago

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?

1 Answer

  • 4 years ago
    Favourite 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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