Oil cartel letters (4)
I believe the answer is:
opec
'oil cartel letters' is the definition.
(I've seen this in another clue)
This is all the clue.
(Other definitions for opec that I've seen before include "Group of countries with a common oil policy" , "International oil-producing cartel" , "Group of oil-producing countries" , "Cartel of oil-producing countries" , "[CRUDE OIL] suppliers?" .)