Cartel
A cartel is a group of independent producers in the same market who agree, officially or unofficially, not to compete with each other. They may set minimum prices, divide territories, or limit production to raise prices. That helps the members, but buyers usually face higher prices and less choice. Private cartels are illegal in the United States and many other market economies. OPEC is a well-known example of countries coordinating oil output to keep prices high.
