On November 28, following the OPEC (Organization of the Petroleum Exporting Countries) meeting, oil proceeded to plunge over 10 percent. At the meeting, OPEC decided not to cut production, in order to match demand, but continue to overproduce and drive the price lower. OPEC by its very nature is a cartel, a group of companies conglomerating their vast resources and market shares to make output decisions that affect the market as a whole. A cartel may not have full influence over the price of a good or commodity but can greatly influence its general price level in order to serve the interests of the group. OPEC is made up of many diverse countries, ranging from Iran and Saudi Arabia to Venezuela and the UAE. These countries encompass many geographic, economic, and cultural differences, but are driven to cooperate for their economy’s major export, oil.