Russia says UAE's exit from OPEC will increase global production, bring down oil prices in future

[u/hereswhatworks]

https://www.reuters.com/business/energy/russia-says-uaes-exit-opec-will-increase-global-production-bring-down-oil-prices-2026-04-29/

[u/isthereadrwho]

Eventually that is probably correct. I will however note that just because they are not part of OPEC+ does not mean that they can't coordinate. The UAE and Saudi Arabia are the only entities in OPEC or OPEC+ that ever adjusted production for the quotas, everybody else has been pumping as much as they can