If a bunch of food staple producers got together and decided to artificially limit output that results to shortage, that would raise prices. They’d effectively profit more with less. It’s also illegal, so how does OPEC constituents do it?
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Because there’s not really any such thing as “international law”. We all talk about it as if there’s some kind of law above an individual country but the honest truth is that the closest thing we have to that is actually agreements among countries to all pass the same laws.
The countries of OPEC have no laws banning the activity that they are engaged in, therefore there’s no laws being broken. United States law does not apply because these countries are not part of the United States.
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