Leaders meeting on the Philippine island of Cebu stressed the urgency of a joint approach beyond the oil-sharing pact for the region that depends heavily on oil imports, making it particularly exposed to the unprecedented energy supply disruption caused by the effective closure of the Strait of Hormuz.

Bloc is expected to call for deeper energy cooperation and reopening of the Strait of Hormuz.

The bloc currently imports more than half of its crude oil from the Middle East.

Leaders meeting on the Philippine island of Cebu stressed the urgency of a joint approach beyond the oil-sharing pact for the region that depends heavily on oil imports, making it…