It is highly unlikely that OPEC and other oil producers would set up a joint structure due to the additional red tape it would create as well as the risk of U.S. monopoly-related sanctions, Russian Energy Minister Alexander Novak said on Thursday.
Reuters: Russia plays down idea of forming joint organisation with OPEC given US sanctions risk
Picture taken on Feb. 18, 2015 shows facilities of Novoprtovskoye oil and gas condensates oilfield of Russian gas and oil giant Gazprom at Cape Kamenny in the Gulf of Ob shore line in the south-east of a peninsular in the Yamalo-Nenets Autonomous District.
