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Akbar Novruz

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Kremlin Press Secretary Dmitry Peskov stated that Russia hopes to maintain the OPEC+ format following the United Arab Emirates' withdrawal from the Organization of the Petroleum Exporting Countries (OPEC), AzerNEWS reports.

In addition, Peskov also confirmed that Russia is not considering its own exit from OPEC+.

Speaking to reporters, Peskov emphasized that the existing agreements within OPEC+ have proven effective in alleviating global oil markets.

"The Russian Federation hopes to preserve the OPEC+ format after the UAE leaves, since these agreements make it possible to stabilize the markets," Peskov said.

While concerns have been raised about the potential fragmentation of OPEC, Al Mazrouei stated that the UAE’s exit is not expected to have a major immediate impact on global markets, given current conditions and supply dynamics.

Analysts suggest the move could weaken cohesion within the producer group, which has historically maintained a unified stance despite internal disagreements over production quotas and geopolitical issues.

The decision has also been interpreted in some circles as aligning with the long-standing criticism of OPEC by Donald Trump, who has accused the organization of influencing oil prices and previously linked US security support for Gulf states to energy policies.