Russia says OPEC+ will continue after UAE exit, no price war expected

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30-04-2026 | 03:12
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Russia says OPEC+ will continue after UAE exit, no price war expected
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Russia says OPEC+ will continue after UAE exit, no price war expected

Russia's Deputy Prime Minister Alexander Novak said on Thursday that the OPEC+ group of leading oil producers would continue working together despite the departure of the United Arab Emirates, Russian news agencies reported.

According to the reports, ⁠Novak said he did not expect an oil price war to emerge following the UAE's exit given a global oil deficit.

The UAE said on Tuesday it was quitting OPEC, dealing a blow to the oil producers' group as an unprecedented energy crisis triggered by the Iran war exposes discord among Gulf nations.

The UAE was the fourth-largest producer in OPEC+, which comprises OPEC and its allies, ⁠while Russia is second, behind Saudi Arabia.



Reuters
 

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