التقارير

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 following study discusses the role of Lebanon’s gold reserves in the establishment of a currency board and evaluates four policy options: a true currency board, constrained central bank reform, full dollarization, and a unified managed float. Gold reserves are relevant under all four. The conclusion is consistent across them: no monetary framework, however carefully designed and however well backed, can substitute for the prior political decision on who bears Lebanon’s losses and how the state will finance itself sustainably.

The Gulf states are betting big on artificial intelligence (AI). Their motive is simple: While hydrocarbons will remain part of the energy mix for the foreseeable future, the revenue and influence tied to crude are already beginning to diminish. AI is not just about technology; it is a hedge, and potentially a new foundation for sustaining and even increasing their power in the rapidly shifting world order.

In the first year of his second term in office, US President Donald Trump focused considerable time and energy on the Middle East, but the results so far have been uneven. This report assesses the US government’s actions in the region over the past 12 months, from January 2025 through January 2026.

ملخص الطاقة في منطقة الشرق الأوسط وشمال أفريقيا هو استعراض ربع سنوي لأهم التطورات التي شهدتها المنطقة في مجال الطاقة خلال الفترة من يوليو إلى سبتمبر 2025، وما تشير إليه هذه التطورات في الأشهر المقبلة. ويستعرض الملخص هذه التطورات من منظور السياسات والاستراتيجيات وأمن الطاقة والأسواق.

President Donald Trump continued to rewrite the playbook of US foreign policy this summer and early fall, with mixed results on the global stage but producing some important openings for progress in the Middle East due to a negotiated Gaza cease-fire and hostage-release deal.

Six months into his second term, President Donald Trump remains in search of a major, concrete foreign policy win. Trump 2.0’s foreign policy is still struggling to produce a major positive outcome from its frenetic activity trying to end kinetic wars while prosecuting an unprecedented economic war with much of the rest of the world. The whirlwind of uncertainty since Trump returned to office in January has yet to improve America’s overall strategic position in the world. The following report assesses the US government’s actions over the past three months from May to mid-July 2025.

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.

President Donald J. Trump’s trip to the Middle East on May 13-16 comes on the heels of more than three months of whirlwind activity in US foreign policy where the region has been a higher priority than it was in the early months of the previous US administration. The US president has gained attention by proposing some provocative ideas and his team has made some signs of progress in talks with Iran, but thus far the second Trump administration has produced very few tangible advances for stability, prosperity, and progress in the Middle East. The following report assesses the US government’s actions on Middle East policy over the past three months, from late January to late April 2025.

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.

The work of the Syria Strategy Project and the considerable policy recommendations found in this report present a realistic and holistic vision for Syria’s recovery and reintegration into the international system.

The Middle East and North Africa is typically viewed from afar as a region of major energy exporters rather than consumers. Consumption patterns vary significantly within the region itself, but a variety of factors warrant giving its energy demand much closer attention than it generally receives on an international level. The range of factors that will determine the changes in demand from every country in the region, each with their respective intricacies, are far too numerous to examine in the space of this study. However, many of the key drivers that are expected to have a broad impact on shaping the evolution of regional demand to the end of the current decade deserve critical review.

The MENA region is set to experience substantial growth in demand for energy during the remaining years of the present decade. Factors driving this growth vary enormously by sub-region and individual country, but there are broad similarities in the forms of both primary and final energy demand growth that are expected to materialize by 2030.