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Did OPEC Just Give Up Being a Cartel

By Steve Brown | Saturday 5 December 2015


 


OPEC is the ultimate cartel, it was formed to get its members a better price for their product than the free market would allow, and the members did that by working together to restrict supply. There is a reason that governments outlaw cartels, they prevent prices finding their true level and they transfer wealth from consumers to producers.


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