11:26 - 30.04.2026

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April 30, Fineko/abc.az. OPEC+ will continue to exist as long as Russia and Saudi Arabia are interested in it.

ABC.AZ reports that this opinion was expressed by Alexey Belogoryev, the Research and Development Director at the Institute for Energy and Finance Foundation of the Russian Federation.

He believes that OPEC itself will remain an important platform for dialogue between Middle Eastern countries and Iran.

The Emirati state agency WAM reported on Tuesday that the UAE is withdrawing from OPEC and OPEC+ on May 1. According to Afra al-Hameli, the Director of the Strategic Communications Department at the UAE Foreign Ministry, the decision is dictated by a long-term economic vision.

At the same time, the organization was not notified in advance about the Emirates' plans.

Belogoryev stressed that OPEC's stability largely depends on Saudi Arabia's position, and the OPEC+ format will remain in effect as long as Moscow and Riyadh maintain mutual understanding on regulating the oil market.