a group of companies who agree to set the price of something they produce at a fixed level in order to limit competition and increase their own profits
The oil cartel, OPEC, has just had its first major success in forcing up oil prices.
The oil-producing countries formed a cartel to control the global oil market, regulating production levels and influencing prices.
The competition authorities investigated the alleged collusion among several major pharmaceutical companies, suspecting the formation of a drug pricing cartel.
The cartel's attempt to fix the prices of certain electronic components led to legal consequences, as antitrust laws prohibit such practices to protect fair competition.
