economy

April 30, 2026

Kremlin reacts as UAE quits OPEC, calls move ‘sovereign’

Russia says it respects the UAE’s decision to leave OPEC as Abu Dhabi seeks more control over oil output amid market turmoil

Kremlin reacts as UAE quits OPEC, calls move ‘sovereign’

TL;DR

  • The UAE is set to withdraw from OPEC and OPEC+ on May 1, citing national interests and a desire for more flexibility in oil output.
  • Russia stated it respects the UAE's sovereign decision and expects continued cooperation in energy markets.
  • The UAE's exit represents a significant share of OPEC+ production capacity, but immediate market impact is expected to be limited.
  • Analysts suggest the move could prompt other countries to reassess their participation in OPEC and OPEC+.
  • Some speculate the decision might be politically motivated, potentially aligning with US interests to control the oil market.

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