OPEC became a successful cartel in the 1970s by deciding to restrict oil production.

Name: OPEC became a successful cartel in the 1970s by deciding to restrict oil production.
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OPEC, or the Organization of the Petroleum Exporting Countries, decided to restrict oil production in 1973 in response to the Yom Kippur War. This led to a significant increase in oil prices and revenue for OPEC member countries, making it a successful cartel.

OPEC Became a Successful Cartel in the 1970s by Deciding