The United Arab Emirates announced Tuesday it will permanently leave the Organization of the Petroleum Exporting Countries (OPEC) and the broader OPEC+ alliance on May 1, marking a significant departure from the oil cartel amid ongoing regional tensions.

UAE officials said the decision followed an extensive review of the country's oil production policy. The move comes as the Middle East faces energy supply disruptions related to ongoing conflict involving Iran, which has affected global oil and fuel markets.

The departure represents a major blow to OPEC, which has traditionally sought to maintain a united front despite internal disagreements over production quotas and geopolitical issues. As a longstanding member, the UAE's exit could create uncertainty within the organization and weaken its influence over global oil pricing.

The announcement coincides with broader energy market volatility in the region. European airlines are grappling with jet fuel supply concerns as imports from the Middle East have been disrupted. Sweden issued an early warning about potential jet fuel shortages, while Treasury yields have risen amid geopolitical tensions.

Gulf leaders are meeting in Saudi Arabia to discuss regional responses to the current situation. The energy crisis has prompted 39 economies to implement energy tax cuts as fuel prices have surged globally.

Analysts view the UAE's decision as reflecting the changing dynamics of global energy markets and the country's desire for greater flexibility in its production policies outside the constraints of OPEC coordination.