Russia has confirmed that it will remain in the Organization of the Petroleum Exporting Countries despite the departure of the United Arab Emirates. Moscow officials view OPEC's role as crucial for managing the currently unstable global oil markets. The UAE recently announced its abrupt decision to leave the coalition.
The Kremlin spokesperson emphasized that this energy framework significantly contributes to stabilizing international markets. As the second-largest producer in OPEC Plus, Russia respects the UAE's independent decision. However, Moscow remains hopeful that bilateral energy dialogues and cooperation will continue without interruption.
Russia's finance minister warned that the UAE's exit could undermine coordination among oil producers. An uncoordinated increase in oil production by member states might trigger a collapse in global prices. Currently, global energy prices remain elevated due to ongoing geopolitical tensions.
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