Gazprom set out a vaulting vision of its future status as the world’s most powerful energy company on Thursday as it belittled Opec, saying the oil producers’ cartel had in effect lost control of the market.

Alexey Miller told the Financial Times that the world was undergoing “a great surge in oil and gas prices . . . which will end with prices at a radically new level”.

He added that even Opec had no real influence on prices. “Not a single decision has been passed of late that would really influence the global oil market. ... Read full article