Russia plays down idea of forming joint organisation with OPEC given U.S. sanctions risk

MOSCOW (Reuters) - 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.The Organization of the Petroleum Exporting Countries and other top oil producers led by Russia have since the end of 2016 made an unprecedented joint effort to curb output and support prices. OPEC and Russia jointly produce more..