Russia has confirmed that it will remain part of OPEC+, even after the United Arab Emirates announced its decision to exit the grouping. The statement from the Kremlin comes at a time of heightened volatility in global energy markets, driven in part by disruptions linked to the ongoing conflict involving Iran.
Kremlin spokesperson Dmitry Peskov described OPEC+ as a crucial platform for coordinating oil production and stabilising prices. He emphasised that the alliance plays an important role in reducing market fluctuations and maintaining a degree of predictability during periods of uncertainty. According to Peskov, the continued functioning of the group is particularly significant given the current pressures on global energy supply chains.
While acknowledging the UAE’s decision to withdraw from the Organisation of the Petroleum Exporting Countries, Russia indicated that it respects the move and intends to maintain bilateral energy cooperation with Abu Dhabi. Officials expressed hope that dialogue between the two countries on oil and energy issues would continue despite the structural shift within the group.
OPEC+, formed in 2016 with Russia as a key partner, has been central to managing global oil output. The alliance accounts for a substantial share of worldwide oil production, with major contributors including Saudi Arabia, Russia, and previously the UAE. The departure of a leading producer such as the UAE highlights emerging differences within oil-producing nations, particularly as they navigate shifting demand patterns and geopolitical disruptions.
The development underscores broader tensions within the energy landscape, where countries are balancing national production strategies with collective efforts to manage supply. Despite these challenges, Russia’s decision to remain in OPEC+ signals continued reliance on coordinated frameworks to address instability in global oil markets.
