It is important to conduct dialogue to balance energy markets — Kremlin spokesman on OPEC+

Lead

Russia has said it will remain in the OPEC+ format and hopes the group of major oil producers will continue to operate, following the United Arab Emirates' decision to withdraw from OPEC and OPEC+. Kremlin spokesman Dmitry Peskov expressed confidence in the structure as a tool for balancing global energy markets.

Coverage comparison

TASS reported on Wednesday (April 29, 2026) that Peskov told a news briefing in Moscow: "We still believe in OPEC+ as a structure that helps balance the global energy markets. We hope that the structure will continue its work, and we will continue our contacts within this structure with our partners." He added that Russia would also continue contacts with the UAE on energy issues.

In a separate response, Peskov said Russia is not considering exiting the OPEC+ format. "No," he answered when asked about the possibility.

The Hindu, reporting the same day, quoted Peskov as praising OPEC+ as "an important organisation, especially during current turmoil on global markets." The Indian newspaper described the UAE's departure as a blow to the group at a time when an energy crisis triggered by the Iran war has exposed discord among Gulf nations.

The UAE announced on Tuesday (April 28, 2026), according to Emirati state agency WAM, that it will withdraw from OPEC and OPEC+ from May 1, 2026. WAM reported that the UAE wants to stabilize the global energy market and that its oil production policy will take into account global supply and demand.

Key claims

• Russia's commitment to OPEC+: Kremlin spokesman Dmitry Peskov said Russia is not considering exiting the OPEC+ format and expects the group to continue its work after the UAE's withdrawal. This position was reported by TASS and The Hindu.

• Importance of dialogue: Peskov stressed the need to maintain a dialogue format that allows balancing energy markets. He clarified that "OPEC+ is not an organization" — while OPEC itself is an organization, OPEC+ is a format, he said.

• No planned presidential call: Peskov said there is currently no call planned between Russian President Vladimir Putin and UAE President Mohamed bin Zayed Al Nahyan. "No, not yet," he told reporters when asked.

• UAE's reasoning: According to WAM, the UAE said it wants to stabilize the global energy market and will set its oil production policy based on global supply and demand. This was cited by TASS.

• Background on OPEC: TASS noted that OPEC was established in 1960 at the initiative of Venezuela, Iraq, Iran, Kuwait, and Saudi Arabia, and that after the UAE's withdrawal it will have 11 member states. The expanded OPEC+ format also includes several other oil-producing countries, including Russia.

Perspectives

Kremlin (Russia): Moscow views OPEC+ as a valuable structure for balancing global energy markets, plans to stay in the format, and will continue energy contacts with the UAE.

United Arab Emirates (via WAM): The UAE is leaving OPEC and OPEC+ to stabilize the global energy market, and will adjust its oil production policy according to global supply and demand.