Miller Touts Creation of 'OPEC-2'

Gazprom CEO Alexei Miller said an "OPEC-2," consisting of a core group of oil-producing states, may have a greater effect on crude prices than the existing 13-member cartel.

"The idea has been brought up of founding an OPEC-2, which will consist of fewer players, but the structure will be more flexible and capable of really influencing the market," Miller said in an interview printed in Itogi magazine Monday.

Russia, which pumped 12 percent of the world's crude last year, is the largest oil producer outside the Organization of the Petroleum Exporting Countries.

Energy Ministry spokeswoman Irina Yesipova declined to comment on Miller's comments. Miller's spokesman Sergei Kupriyanov said it was "too free an interpretation" to say Russia may join a more compact cartel of oil producers.

"Recently OPEC hasn't made a single decision that substantially influenced the market," Miller said. "Clearly cartel structures are also evolving."