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Oil cartel

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Translation oil cartel into russian

oil cartel
The oil cartel decided to cut production to increase prices.
Нефтяной картель решил сократить производство, чтобы повысить цены.

Definitions

An oil cartel is a group of oil-producing countries or companies that collaborate to control the production, pricing, and distribution of oil in order to maximize profits and stabilize the market. The most well-known example is the Organization of the Petroleum Exporting Countries (OPEC).