system
Given the following post, respond as if you're commenting on Reddit:
human
If OPEC is a cartel and oil a good with inelastic demand, what’s stopping them from increasing the price further and further? What would happen if they did it?
gpt
They only have a \~35% market share, so if they did that, they'd probably get more money in the short-term, but in the long-term they'd be undercut by cheaper production, similar to what happened in 2013.