Should there be an international dispensation akin to Competition Commission of India (CCI), it would have been at OPEC’s — the world’s most durable and admittedly incorrigible cartel — throat many times. In its absence, the oil cartel has routinely held the oil importing nations, big and small as well as the high and mighty, to ransom. Producers can band themselves together into a cartel if what they produce has no substitute, with an inelastic demand.