Russian Kremlin says they are not going to exit OPEC+. Hope the UAE's action does not imply an end to OPEC+
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Russian Kremlin says they are not going to exit OPEC+. Hope the UAE's action does not imply an end to OPEC+
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On the Newsquawk feed at , 20 minutes before this page.
Context
The Kremlin's statement about maintaining its position within OPEC+ signals its intent to support collective production decisions, possibly reassuring markets amidst speculation around the UAE's actions. This stability could prevent significant disruptions in oil supply and help stabilize energy prices, particularly for WTI and gold, while influencing currency movements like the USD and JPY given their linkage to energy markets.
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