Russia says the OPEC+ alliance will continue to operate following the exit of the United Arab Emirates. Moscow officials stated that no price war is expected as a result of the departure.

Brent crude jumps above $122 to four-year high as US-Iran war escalation fears threaten oil supply.

Brent crude rose above $122 a barrel, a four-year high, as concerns grew that the US-Iran war could escalate and disrupt Middle East oil supply.

Russian Deputy Prime Minister Alexander Novak describes the United Arab Emirates' decision to exit OPEC and OPEC+ as a sovereign choice for the nation.

Russian Deputy Prime Minister Alexander Novak stated that the United Arab Emirates' decision to withdraw from OPEC and OPEC+ is a sovereign matter for the country.

OPEC+ is expected to approve a symbolic oil production increase for June, according to three delegates. This marks the group's first policy move since the United Arab Emirates departed the alliance.

OPEC+ delegates indicate the group is likely to approve a symbolic oil production increase for June, marking its first policy decision following the departure of the United Arab Emirates.

Kremlin spokesperson Dmitry Peskov says Russia will implement a one-day ceasefire for Victory Day, stating the decision is made by President Vladimir Putin and does not require a response from Kyiv.

Kremlin spokesperson Dmitry Peskov stated that Russia will implement a one-day ceasefire for Victory Day, noting that the decision rests solely with President Vladimir Putin and does not require a response from Kyiv.