OPEC, Russia draft cooperation charter offers no formal body: Document

Scared by looming US anti-cartel legislation for the oil industry, the Organisation for the Petroleum Exporting Countries and its allies such as Russia have decided against creating a formal body, at least on paper.

A draft of a document — setting up a new alliance and dated January 2019 — and seen by Reuters carefully avoids any mention of sensitive issues such as oil prices, market share and production cuts.