UAE Signals Support for Russia in OPEC+ Before Group Meets
- OPEC+ has dismissed pressure to replace Russian oil supplies
- UAE won’t push for higher quota as new baselines take effect
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The United Arab Emirates endorsed the continued role of Russia in OPEC+, even as governments condemn Moscow’s invasion of Ukraine and buyers shun its cargoes.
“Russia is an important member” of the Organization of Petroleum Exporting Countries and its allies and is likely to remain in the group, United Arab Emirates Energy Minister Suhail Al-Mazrouei said Monday at a conference in Dubai. “This is an alliance to stay; this is an alliance we need.”