How OPEC has achieved an increase in oil price and what is the rational behind?

what is the long run effect of this strategy?How OPEC has achieved an increase in oil price and what is the rational behind?
They limit suppy to make sure the price stays high. That's the whole purpose of the cartel. The rational is that they make the most money if they all follow the cartel.





Long run is that if they do manage to keep up the cartel, they'll make more profits.





viv: Hm, that could very well be the case. I haven't done enough research to know whether the price shifts are demand or supply based, but I'll take your word for it.How OPEC has achieved an increase in oil price and what is the rational behind?
In fact OPEC policy is not the main reason of oil price raise,the increase of the world demand on energy is the


factor behind this.Of course it has a positive effect on


the countries that produce oil,and a negative effect to the


countries that import oil ,but the industrial countries will


not be affected.