Russia to remain in OPEC+, hopes UAE exit does not spell end of group

“MOSCOW, April 29 (Reuters) - Russia plans to stay in OPEC+ despite a decision by the United Arab Emirates to leave, the Kremlin said on Wednesday, voicing hopes the alliance of oil producers would continue to operate amid turmoil in the global energy market. The UAE said on Tuesday it would quit the Organization of the Petroleum Exporting Countries, dealing a blow to the group as an energy crisis triggered by the Iran war has exposed rifts among Gulf nations. The UAE ​was the fourth-largest producer in OPEC+, while Russia is second, behind Saudi Arabia.

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