Russia says OPEC+ will continue after UAE exit, no price war expected - Reuters
Russia says OPEC+ will continue after UAE exit, no price war expected Reuters
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"Moscow isn’t considering the possibility of leaving the partnership with the Organization of the Exporting Petroleum Countries and hopes the UAE’s exit from the group doesn’t mean the end of the broader OPEC+ alliance."
— Dmitry Peskov , Politician
"In the current situation, it is hard to talk about a price war when there is a shortage in the market."
— Alexander Novak , Executive
"We of course would like to hope so."
— Dmitry Peskov , Politician
"the UAE’s exit, effective this Friday, would boost oil production and eventually bring down energy prices"
— Anton Siluanov , Politician
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<a href="https://news.google.com/rss/articles/CBMiuwFBVV95cUxOc1hveFYtMEtSTUZ1MkNkUWVqQVoxcE05R3F1UG1TUTVKUzVaMHc1a0JPM0M0eWVGOERuS25DNUI0U1lBNHJlRlBFZHU0Vl9mTXJyTGNWeDM4Y2ZYWHVPV1gxRHFfQUd2WXVLU2UxUmctYkZXbGtDUW9VdUNKc0YwVzVJQ1h4cmsxcVdiRF9HQUZFT2RnM09HTUdULW1hX283X2xJTXpZUVZwQm53Sm9JMHNVZXl6d1VDd1VJ?oc=5" target="_blank">Russia says OPEC+ will continue after UAE exit, no price war expected</a> <font color="#6f6f6f">Reuters</font>
Russia's Deputy Prime Minister Alexander Novak confirmed that OPEC+ will continue its operations despite the UAE's departure, citing a global oil deficit and no expectation of a price war.
Russia has no plans to leave OPEC+ following the UAE's decision to quit, with hopes that the alliance will continue to operate amid global energy market turmoil.
Russia's Deputy Prime Minister Alexander Novak stated that OPEC+ will continue its cooperation despite the UAE's departure, emphasizing a global oil deficit and no expectation of a price war.
Russia plans to stay in OPEC+ and expects the group to continue operating despite the UAE's decision to leave the oil producers' alliance.
The Kremlin expressed hope that the UAE's departure from OPEC will not lead to the collapse of the oil cartel, emphasizing Russia's commitment to stabilizing global energy markets through OPEC+.
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