Gulf Leaders Unite in Jeddah to Push for Strait of Hormuz Reopening as UAE Quits OPEC

The Jeddah summit sought a diplomatic solution to preserve regional stability amid the ongoing conflict. Leaders emphasized the need for stronger coordination to achieve a lasting agreement.

A key statistic highlights the waterway’s importance, noting that the Strait of Hormuz carries one-fifth of global oil and LNG supplies during peacetime. All six GCC states insist the passage must reopen as a condition of any deal.

In a separate move, the United Arab Emirates announced its withdrawal from OPEC and OPEC+ to prioritize national interests, altering the dynamics of the oil-exporting blocs. This decision significantly impacts the organization’s cohesion as it navigates the crisis.

The talks coincide with the US considering an Iranian proposal to end the war and reopen the crucial artery, which has been largely closed, disrupting global markets. What to watch next is whether the economic pressure translates into a concrete, permanent arrangement for the waterway.