The Organization of Petroleum Exporting Countries (OPEC) is an example of a

The Organization of Petroleum Exporting Countries (OPEC) is an example of a cartel. A cartel is a group of firms or countries that come together to control the production and pricing of a particular product in order to maximize profits. OPEC is made up of 14 countries that produce a significant portion of the world's oil, and they work together to control the supply of oil in order to keep prices high. By coordinating their production levels, OPEC can influence the global price of oil, which has a significant impact on the world economy.