The Organization of Petroleum Exporting Countries (OPEC) is a group of oil-producing countries that together control the supply of oil and ultimately its price. What term describes OPEC?

Question

Quizplus · Accepted Answer

OPEC is an oil cartel, which means it is a group of oil-producing countries that work together to control the supply of oil and influence its price.

The Organization of Petroleum Exporting Countries (OPEC) Is a Group