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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OPEC isn’t really subject to American antitrust laws.
Most American oil is produced in the west.
Standard Oil was broken up because it was an American company that had grown too powerful, controlling most American oil.
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