Not just supply, cartels are a group working together to manipulate markets in a variety of ways, also including:
Hold prices for their own suppliers artificially low by agreeing a price cap and refusing to pay more. They rely on suppliers having nowhere else to sell. e.g. British supermarkets have been repeatedly accused and sometimes IIRC convicted of operating a cartel to demand unfairly low prices from food producers.
Agree to split geographies so that there's effectively no competition to supply and each member of the cartel has local monopolies in all or most territory. This should be familiar to US folks who want High Speed Internet outside of a major city.
All agree never to offer a product which would hurt the overall market but be profitable for the first to offer it. Some have claimed the long delay in electric cars coming to market is evidence of this sort of cartel.
Cartels are illegal in much of the world (but ordinary laws don't apply to sovereign entities). If you're ever part of some big industry insider meeting and the lawyers make everybody agree not to talk about prices, future products or other commercial issues it's not because they're commercially sensitive, it's because your executives could do jail time if a court decides your group is a cartel.