You're wrong. Here's one example
OPEC - Wikipedia the free encyclopedia
There are thousands of other examples, where producers collude on price to corner the market or at least attempt to and act together as a monopoly forcing out competition.
OPEC is not a monopoly. The US, Britain, and Norway are all non members but produce oil anyway.
Next.
I didn't call it a monopoly. It's an oligopoly.
It isnt that either. It's a cartel.
There are 30 non member producers vs 12 member state producers.
Just because you don't know what an oligopoly is, does not mean a cartel isn't an example of one.
Websters Definition of OLIGOPOLY
: a market situation in which each of a few producers affects but does not control the market
oligopoly noun (Concise Encyclopedia) Market situation in which producers are so few that the actions of each of them have an impact on price and on competitors. Each producer must consider the effect of a price change on the others. A cut in price by one may lead to an equal reduction by the others, with the result that each firm will retain about the same share of the market as before but with a lower profit margin. Competition in oligopolistic industries thus tends to manifest itself in nonprice forms such as advertising and product differentiation. Oligopolies in the U.S. include the steel, aluminum, and automobile industries.
See also cartel,
monopoly.
Websters definition of Cartel:
Organization of a few independent producers for the purpose of improving the profitability of the firms involved (
see oligopoly). This usually involves some restriction of output, control of price, and allocation of market shares. Members of a cartel generally maintain their separate identities and financial independence while engaging in cooperative policies. Cartels can either be domestic (e.g., the historical example of the German
IG Farben) or international
(e.g.,OPEC). Because cartels restrict competition and result in higher prices for consumers, they are outlawed in some countries. The only industry operating in the U.S. with a blanket exemption from the
antitrust laws is major league baseball, but several U.S. firms have been given permission to participate in international cartels.
All producers affect the market, so your definition is meaningless. The definition is so broad and nebulous that it includes every industry on the planet. Which is just as the government toady economists intended since it gives the government justification for regulating every industry on the planet.
A cartel is something distinct from an oligopoly. A cartel is where businesses collude with each other to drive up prices. However, when the government toady economics wizards use the term "oligopoly" they are not referring to cartels. The point of the oligopoly term is to give government justification to step in where there is no collusion.
Not that your definition describes the behavior of highly competitive industries to be "oligopolistic." They all charge about the same price and compete based advertising or product differentiation. In other words, they attempt to sell consumers on the superiority of their product. If an industry was highly competitive, how would it behave any differently? Yet, your definition attempts to pain an oligopoly as something sinister.
The term is obvious horseshit.