Constrict the supply, and price goes up. It works like textbook economics.

Maybe I'm misinterpreting "et tu" here.

Or maybe you meant "free markets" instead. Modern RAM production requires enormous R&D expenses, and thus has huge moat, which means the oligopoly is pretty safe (at least in the short to medium term) from new entrants. They "just" need to keep each other in check because there will be an incentive to increase production by each individual participant.

I do like the "OMEC" name as a paralel for OPEC.