As President Joe Biden and several Gulf and Middle East leaders meet in Jeddah, they will be discussing global energy markets, regional security, countering Iran, and building on the Abraham Accords. But in the wake of the COVID-19 pandemic, and as the Russian war on Ukraine reverberates, half of the countries in the region, and tens of millions of people, are facing desperately worsening socio-economic conditions. If the summit seeks to work toward a more stable Middle East, the U.S. and Gulf leaders should agree on a sustained effort to use part of the region’s windfall from high energy prices to support vulnerable states and societies that are at risk of serious unraveling and instability.