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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Couple of reasons. One is that it’s a group of countries. Those countries are not subject to the laws of other countries because they’re not *in* those other countries.
The other reason is “what are you gonna do about it”. OPEC is a cartel. Cartels are generally frowned upon or banned in most countries. But what are we gonna do? Say “you’re no longer allowed to sell us oil”? That hurts us more than them.
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