Colby Connelly is a senior fellow at the Middle East Institute (MEI), where he focuses on oil and gas markets, liquified natural gas (LNG), aboveground risk, corporate strategy, and the impact of the energy transition on oil- and gas-producing states. He is also the head of Middle East content and senior analyst at Energy Intelligence, where he works with the firm’s research and advisory practices.
Before joining MEI, Mr. Connelly was a research associate at the Arab Gulf States Institute in Washington, where he specialized in the economies of the Gulf Cooperation Council (GCC) region, with a particular focus on national oil companies and domestic energy markets. He also spent several years as a contractor in Saudi Arabia, supporting workforce nationalization initiatives and designing and managing training programs for employees in Saudi energy and critical infrastructure sectors. Additionally, he served as a contributor to IHS Markit’s Middle East and North Africa country risk service for nearly eight years.
He holds an MA from Johns Hopkins University and a BA from James Madison University.
When Will Energy Markets Recover From the Iran War?
Two and a half months into the blockade of the Strait of Hormuz, what lessons can markets draw from the resulting global energy shock? Colby Connelly, MEI Senior Fellow, joins hosts Alistair Taylor and Matthew Czekaj to assess the crisis’s impact on the energy industry. Together, they examine how producers are responding to the conflict in both the short and long term, how this moment differs from past energy disruptions, and how regional reverberations may shape international energy policies going forward.
MENA Energy Recap, Q1-2026: Four Lessons From the Return of Tail Risk
This is a special edition of the MENA Energy Recap — a quarterly review of key energy developments that took place in the region from January through March of 2026 and what they signal in the months ahead. For Q1-26, the recap considers some of the long-term implications of the ongoing war in the region, which have caused the largest energy supply disruption in history, and what lessons these events hold for both near- and long-term energy dynamics in both the Middle East and the wider world.
The UAE’s departure represents an undeniable strategic setback for OPEC+. Its most likely response will be to shore up the amount of output capacity subject to quotas. For now, there are two clear pathways it could take to accomplish this, although neither represents a quick fix.
Unfinished business will drive the Mideast agenda in 2026
Following another year of pivotal developments and transformational change, the Middle East could be poised to turn the page on many of its long-running conflicts and sources of instability. But lasting fruits of the processes begun in 2025 will require a determined, intentional focus by regional actors and the United States. Given current trends, MEI experts weigh in on where the region may be headed in 2026.
MENA Energy Recap, Q3-2025: Gulf Giants Abroad, Fragile Deals at Home
The MENA Energy Recap is a quarterly review of key energy developments that took place in the region from July through September of 2025 and what they signal in the months ahead. The Recap views these developments through the lens of policy and strategy, energy security, and markets.
How have recent events affected MENA energy markets?
“The first half of 2025 has been a whirlwind for global energy markets,” says MEI Senior Fellow Colby Connelly. The 12-day war between Israel and Iran this past June briefly sent oil prices into the $80 per barrel range, while growing uncertainty around trade policy under President Trump has greatly complicated Middle Eastern actors’ investment decisions. Connelly breaks down these developments and outlines what to watch in the months ahead.
MENA Energy Recap, Q2-2025: Markets Soften, Resolve Hardens, Investments Grow
The MENA Energy Recap is a quarterly review of key energy developments that took place in the region from April through June of 2025 and what they signal in the months ahead. The Recap views these developments through the lens of policy and strategy, energy security, and markets.
The US enters Israel’s war with Iran — MEI experts react
The United States struck three nuclear facilities in Iran on the evening of June 21, in the midst of the ongoing Israel-Iran conflict. MEI scholars provide real-time analysis to help make sense of what this escalation means and what might come next.
Near-term progress in a renewed nuclear agreement between the United States and Iran could add further downward pressure to a delicate oil market, potentially heralding more fiscal pain for Gulf oil producers and complicating US energy strategy.
MENA Energy Recap, Q1-2025: Tariffs and Sanctions Loom Large as Trump Returns
The MENA Energy Recap is a quarterly review of key energy developments that took place in the Middle East and North Africa region from January to March 2025 and what they signal for the months ahead. The Recap views these developments through the lenses of policy and strategy, energy security, and markets.
Return to "maximum pressure": Opportunities and challenges
With the signing of a presidential memorandum on Feb. 4, the administration of Donald Trump has returned to a “maximum pressure” campaign against Iran, but circumstances have changed drastically since the policy of intensified sanctions was originally crafted during his first term. Regional geopolitics will present the White House with a new set of variables, while changes in the petroleum markets will affect how the administration approaches sanctions on oil exports.
