Russia Responds to UAE's Exit from OPEC: Will Remain in OPEC+ Framework

On April 29, multiple media outlets reported that following the UAE’s announcement to exit OPEC, Russia has made it clear that it has no plans to withdraw from OPEC+ and emphasized that maintaining the stability of the alliance is crucial for the global energy market. Kremlin spokesperson Dmitry Peskov stated that although the UAE’s exit increases market uncertainty, Russia does not believe this will lead to the collapse of the OPEC+ mechanism. In the context of the current high volatility in the global energy market, OPEC+ remains an important mechanism to buffer against oil price fluctuations. It is widely believed that the UAE’s exit is related to its long-standing conflicts with Saudi Arabia over production baseline quotas and regional influence. Analysts point out that amid ongoing tensions in the Middle East and rising risks in key energy transport routes such as the Strait of Hormuz and the Mandeb Strait, internal divisions within OPEC have been further amplified. For Russia, maintaining cooperation within OPEC+ is driven by practical interests. Data shows that in March 2026, Russia’s daily crude oil production was approximately 9.167 million barrels, which has been declining for several months and is about 407,000 barrels per day below its OPEC+ quota. With limited production capacity, Russia is more inclined to support oil prices through coordinated production cuts rather than unilaterally increasing supply. Additionally, Kazakhstan’s Ministry of Energy has also stated that it will not adjust its participation in OPEC+. Several sources close to the alliance have indicated that there are currently no signs of other member countries following the UAE’s exit.