Russia responds to UAE's withdrawal from OPEC: Will continue to stay within the OPEC+ framework

BlockBeats News, April 29 — According to multiple media reports, after the United Arab Emirates announced its withdrawal from OPEC, Russia explicitly stated that there are no plans to exit OPEC+ and emphasized that maintaining the stability of the alliance is crucial for the global energy market.

Kremlin spokesperson Dmitry Peskov said that although the UAE’s departure increases market uncertainty, Russia does not believe this will lead to the disintegration of the OPEC+ mechanism. In the context of highly volatile global energy markets, OPEC+ remains an important mechanism to buffer oil price fluctuations.

The market generally believes that the UAE’s withdrawal this time is related to its long-standing conflicts with Saudi Arabia over production quota benchmarks and regional influence. Analysts point out that amid ongoing tensions in the Middle East and rising risks to key energy transportation routes such as the Strait of Hormuz and the Strait of Mandeb, internal divisions within OPEC have been further amplified.

For Russia, maintaining OPEC+ cooperation has practical benefits. Data shows that as of March 2026, Russia’s daily crude oil production was about 9.17M barrels, having declined for several consecutive months and about 407k barrels per day below the OPEC+ quota. Under capacity constraints, Russia prefers to support oil prices through coordinated production cuts rather than expanding supply alone.

Additionally, Kazakhstan’s Ministry of Energy also stated that it will not adjust its participation in OPEC+. Several sources close to the alliance said there are currently no signs of other member countries following the UAE’s withdrawal.