12:03 - 29.04.2026

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April 29, Fineko/abc.az. Saudi Arabia should be considered the main affected party from the withdrawal of the UAE from the Organization of Petroleum Exporting Countries (OPEC) and alliance OPEC+.

ABC.AZ reports that this opinion was expressed by Alexander Shenderyuk-Zhidkov, the first deputy head of the Budget Committee of the Federation Council of the Russian Federation.

The senator called UAE's withdrawal from the international industry organization a serious loss. The Middle Eastern country has impressive reserves of raw materials and production facilities.

"This is not just the loss of one of the participants: these are large volumes of oil production, which are now not bound by any obligations," he stated.

In this scenario, Saudi Arabia will have fewer opportunities and levers of pressure to stabilize world oil prices. Russia can help it in this matter, the senator believes. However, in the long term, the "supply war" will eventually lead to lower commodity prices due to increased production and exports from the UAE, he concluded.