In order to make oil profits as large as possible, OPEC meets to set oil production quotas for its members. OPEC is best classified as a:

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OPEC operates as a cartel, where member countries work together to set production quotas in order to control prices and maximize profits. This is a characteristic of a cartel, which is a group of producers who collude to restrict output and increase prices, similar to a monopoly but involving multiple firms or countries.

In Order to Make Oil Profits as Large as Possible