Cartels

The Organization of the Petroleum Exporting Countries (OPEC ) is an organization enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market and maximize profit. It was founded on 14 September 1960 in Baghdad by the first five members: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The organization, which currently comprises 12 member countries, accounted for 38 percent of global oil production in 2022. It is estimated that 79.5 percent of the world's proven oil reserves are located within OPEC nations, with the Middl

international trade association for airlines

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 competition, fix prices, and increase prices by creating artificial shortages through low production quotas, stockpiling, and marketing quotas. Jurisdictions frequently consider cartelization to be anti-competitive behavior, leading them to outlaw or curtail cartel practices. Anti-trust law targets cartel behavior in markets.

the seven oil companies which dominated the global petroleum industry

cartel to control the manufacture and sale of incandescent light bulbs

party which uses the resources of the state to maintain its position within the political system, operating similar to a cartel

Kabunakama (株仲間) were merchant guilds in Edo period Japan, which developed out of the basic merchants' associations known as nakama. The kabunakama were entrusted by the shogunate to manage their respective trades, and were allowed to enjoy a monopoly in their given field.