OPEC, a cartel of 13 oil-producing nations, controls global oil prices by coordinating production quotas to create artificial scarcity, rather than competing on price; this strategy, which began in 1973 when oil prices jumped from $3 to $12 per barrel, allows OPEC to extract over $3 trillion since 1960 while operating under sovereign immunity, unlike other industries subject to antitrust laws.
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OPEC: The World's Most Profitable Legal CartelAñadido:
This is WealthFiles, where financial truth replaces financial noise. Did you know 13 countries legally run the world's most profitable cartel? OPEC has extracted over $3 trillion since 1960 by doing something that would land any CEO in prison. Most people think oil prices reflect supply and demand. They don't.
They reflect boardroom decisions in Vienna, where 13 nations meet quarterly to decide how much oil the world gets.
Here's the strategy everyone missed.
OPEC doesn't sell oil. They sell scarcity. Every production cut creates artificial shortage. Every quota agreement transfers wealth [music] from your gas tank to their treasuries. The genius move happened in 1973.
Instead of competing on price, [music] they coordinated on supply. Oil jumped from $3 to $12 [music] per barrel overnight. Global wealth shifted permanently eastward. While every other industry faces antitrust [music] laws, OPEC operates under sovereign immunity.
They've turned natural abundance into [music] engineered shortage for six decades. The world's consumers pay the difference. Legal cartel status remains their ultimate competitive advantage.
Subscribe [music] for more WealthFiles stories.
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