“I would like to say that we are prepared for this [joining OPEC]. We must defend ourselves, since this is our revenue base, both from oil and gas. These kinds of defensive measures could be tied to lowering oil production, and participating in the existing suppliers organization, and participating in new organizations, if we can come to an agreement beforehand, so to speak.”
Russian President Dmitri Medvedev
If Russia does join OPEC, Europe will be even more at the mercy of Russia, since it buys much of its energy resources there. It could have costly consequences for Europeans who like to drive or stay warm in the winter.
