Russia Responds to UAE Exit from OPEC: Will Continue to Remain within OPEC+ Framework

April 29 — Multiple media reports: After the UAE announced its withdrawal from OPEC, Russia has made clear there are no current plans to exit OPEC+, emphasizing that maintaining alliance stability is critical for the global energy market. Kremlin spokesperson Dmitry Peskov said while the UAE’s exit has increased market uncertainty, Russia does not believe this will collapse the OPEC+ mechanism. In today’s highly volatile global energy market, OPEC+ remains a key tool to cushion oil price swings. Market analysts generally link the UAE’s withdrawal to long-running disputes with Saudi Arabia over production quota baselines and regional influence. They note ongoing Middle East tensions and rising risks to critical energy transit routes — including the Hormuz and Malacca Straits — have further widened OPEC’s internal rifts. For Russia, sustaining OPEC+ cooperation has practical perks. Data shows Russia’s daily oil production stood at ~9.167 million barrels as of March 2026 — down for months and ~407,000 bpd below its OPEC+ quota. With limited production capacity, Russia prefers supporting prices via coordinated cuts over unilaterally boosting supply. Kazakhstan’s Energy Ministry also said it will not adjust its OPEC+ participation. Multiple alliance sources note no signs of other members following the UAE’s lead in withdrawing.