JOURNAL ARTICLE

Russia Says UAE's OPEC Exit Won't Trigger Imminent Price War.

  • Published In: Bloomberg.com, 2026. P. N.PAG 1 of 2

  • Database: Business Source Ultimate 2 of 2

Abstract

The article focuses on the United Arab Emirates' (UAE) decision to leave the Organization of the Petroleum Exporting Countries (OPEC) and its potential impact on oil markets. Russian Deputy Prime Minister Alexander Novak stated that this move is unlikely to trigger an immediate price war due to supply constraints caused by the ongoing Iran conflict, which has limited producers' ability to increase output. Novak also noted that Russia and Saudi Arabia have not discussed the UAE's exit and that Russia intends to remain in the OPEC+ alliance, which he described as effective in managing oil market risks and supporting industry development during crises. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2026/04, pN.PAG
  • Document Type:Article
  • Subject Area:Economics
  • Publication Date:2026
  • Accession Number:193408207
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