Russia to stay in OPEC+, hopes UAE exit won’t disrupt cooperation

Russia said it will remain in OPEC+, expressing hope the UAE’s exit will not undermine cooperation or stability in global oil markets.

Russia says OPEC remains crucial after UAE exit, warning of market instability and oil price risks amid global energy tensions and supply uncertainty.

Russia said OPEC remains vital despite UAE exit, warning that global oil markets face volatility and coordination among producers is increasingly critical.

Russia has said it will remain committed to the Organization of the Petroleum Exporting Countries (OPEC) despite the United Arab Emirates’ decision to leave the group, emphasizing the organization’s continued importance in stabilizing global oil markets. Moscow described OPEC as a key mechanism for managing supply and reducing volatility.

The UAE announced earlier this week that it would withdraw from OPEC, a move that has drawn attention amid ongoing energy market uncertainty and geopolitical tensions. The decision highlights emerging differences among major oil-producing nations, particularly in the Gulf region.

Kremlin spokesperson Dmitry Peskov said OPEC continues to play a critical role, especially under current market conditions marked by instability and shifting demand. He noted that coordinated production policies have historically helped prevent sharp price fluctuations and maintain balance in global energy markets.

Peskov added that Russia respects the UAE’s decision but hopes that dialogue and cooperation between Moscow and Abu Dhabi in the energy sector will continue. He also indicated that Russia had not been informed in advance about the UAE’s withdrawal.

Russia’s finance minister Anton Siluanov warned that the UAE’s exit could weaken coordination among oil producers, increasing the risk of unregulated output. He said that if countries raise production independently, global oil prices could come under downward pressure.

He further noted that current oil prices remain elevated partly due to disruptions in key shipping routes, including tensions affecting the Strait of Hormuz. However, he cautioned that if supply routes fully reopen, the market could face oversupply.

OPEC and its broader alliance known as OPEC+—which includes Russia—have played a central role in managing global oil production since 2016. Together, they account for a significant share of the world’s oil output, giving them substantial influence over pricing trends.

The global energy market has faced repeated shocks in recent years, driven by geopolitical conflicts, supply chain disruptions, and fluctuating demand. Events such as regional conflicts and sanctions have intensified uncertainty, making coordination among producers increasingly important.

Despite the challenges, Russia signaled it remains committed to cooperation with key energy partners, stressing that sustained dialogue will be essential to maintaining stability in an increasingly unpredictable global oil market.

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