The Emirati state news agency WAM reported on April 28 that the country had decided to withdraw from OPEC and OPEC+ effective May 1 of this year

This was mostly due to severe disruptions at major Gulf hubs due to war in the Middle East

According to the portal, once production quotas are lifted, the United Arab Emirates could increase output by more than 40%, which will intensify competition in markets supplied by higher-cost producers, including countries in sub-Saharan Africa

"The whole range of large-scale initiatives in the economy, as the presidents noted, has already been discussed specifically between representatives of our nations," Yury Ushakov added

"The influx of UAE crude is anticipated to drive the oil price down and challenge Saudi Arabia’s dominance in the global oil market," Hung Wing Lok said

The MOEX Index fell 2.1% to 2,639.82 points, while the dollar-denominated RTS Index dropped 2.35% to 1,110.57 points

Miguel Jaimes argued that the US is actively seeking to undermine the cohesion of OPEC+, a coalition led by Russia and Saudi Arabia, by applying pressure on member countries - including Russia - over the Ukraine conflict

Nenad Popovic called energy an important element of cooperation with Russia

According to Robert Agee, American businesses are counting on anti-Russian sanctions being lifted

The license permits transactions related to negotiations regarding the sale, alienation, or transfer of Lukoil International GmbH and its assets

Imports of fish and seafood from China by Russia moved up in January - March 2026 by 20% in weigh

Inflation totaled 0.01% a week earlier