oil cartel

Definitions of oil cartel
  1. noun
    a cartel of companies or nations formed to control the production and distribution of oil
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    types:
    OPEC, Organization of Petroleum-Exporting Countries
    an organization of countries formed in 1961 to agree on a common policy for the production and sale of petroleum
    type of:
    cartel, combine, corporate trust, trust
    a consortium of independent organizations formed to limit competition by controlling the production and distribution of a product or service
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