Russia says it will stay in OPEC+, hopes U.A.E. exit does not spell end of group

The ‌Kremlin said on Wednesday (April 29, 2026) that Russia ​planned to stay in ⁠OPEC+ despite a decision by the United Arab Emirates to leave, and said it ‌hoped that the group of leading global oil producers would ‌continue to operate.

The U.A.E. said ‌on ⁠Tuesday (April 29, 2026) it was quitting the ⁠Organization of the Petroleum Exporting Countries, dealing a blow to the group at a time ​when an unprecedented ‌energy crisis triggered by the Iran war has exposed discord among Gulf nations.

Kremlin spokesman Dmitry Peskov praised OPEC+ as ‌an important organisation, especially during current ​turmoil on global markets.

Watch: UAE leaves OPEC and OPEC+ in huge blow to global oil producers’ group