Research & Commentary Results

While oil prices have rebounded before soaring since the depths of collapse in the spring of 2020 — with Brent crude prices skyrocketing from $19 per barrel in April 2020 to a three-year high of $86 per barrel in October 2021 — the prospects for a sustained high oil price for Gulf producers is unlikely.

When President Joe Biden’s White House announced that it had successfully enlisted several major oil-consuming countries in an effort to coordinate releases from strategic petroleum reserves (SPRs) around the world, it looked like this would be the only major factor in oil markets that OPEC+ would need to consider at its upcoming meeting on Dec. 2. Then came Omicron. The newly discovered variant of the COVID-19 virus sent benchmark oil prices plunging on Nov. 26 as uncertainty over its impact roiled global markets.

North Africa has entered a food security crisis. Tunisia, Algeria, and Morocco are witnessing food inflation levels not seen since the civil unrest of the Arab Spring a decade ago. Although the Maghreb’s current food crisis was precipitated by the local and global economic shocks brought on by the onset of the COVID-19 pandemic in 2020 and its 2021 aftermath, the structural fragility of the food systems in Tunisia, Algeria, and Morocco is responsible for severity of the problem. At the core of this fragility is the failure to implement adequate measures to address the impact of increased water scarcity and debilitating climate change.

The Strait of Hormuz is one of the world’s most important maritime chokepoints, vital to the global supply of both oil and liquefied natural gas. The issue of freedom of navigation in the strait has long been a source of tension, but until recently any attempt by Iran to physically close it looked highly implausible, unless it resulted from either a major embargo or total blockade of Iranian ports by the West, or a large-scale military confrontation. However, the events of the past three years showed Iran can still ensure a major disruption of the flow of energy without a formal blockade and without an increased risk of military confrontation with the West. Iran has a variety of means at its disposal, especially through its Islamic Revolutionary Guard Corps naval forces, and the Iranians make no secret of their desire to be recognized as the dominant military power in the Gulf and the Strait of Hormuz.

As the U.N. Climate Change Conference (COP26) kicks off in Glasgow, climate change is front and center on the global agenda. Few regions of the world have more at stake than the Middle East and North Africa, given the current environmental and sustainability challenges and potential future scenarios. Experts from across MEI weigh in with their thoughts on what should be the key outcomes from COP26.

Next week, tens of thousands of world leaders, negotiators, scientists, business executives, activists, and observers from all over will gather in Glasgow, Scotland for the 26th United Nations Climate Change Conference, which will run from Oct. 31 to Nov. 12. Also known as the Conference of the Parties (COP), this distinguished body meets annually to make decisions regarding the implementation of the United Nations Framework Convention on Climate Change (UNFCCC), which aims to “prevent anthropogenic interference with the climate system.”

The kingdom is unlikely to achieve net zero emissions soon, but the ambition to do so, and the plan, is an impactful step in the right direction, write Jim Krane and Karen E. Young in their new piece for Al-Monitor.

The Middle East is at the center of our global energy transition and we can expect the next five to ten years to be a period of difficult transformation, but also unique opportunity for oil and gas producers.

This paper examines the prospects of jihadist expansion in the Sahel region and its implications for security actors and civilian populations alike. It investigates the role of propaganda and public discourse narratives in bolstering jihadist group legitimacy and advancing attempts by groups seeking to generate local embeddedness and mass support. It offers a nuanced perspective of inter-jihadist contestation, one that goes beyond mere focusing on security operations and clashes and delves more deeply into group framing and identity.

In the last few years, it has become conventional wisdom that unemployment is Jordan’s most pressing challenge. While King Abdullah himself has stressed on many occasions that reducing unemployment is a top priority, the number of unemployed is still on the rise. This problem can be overcome with evidence-based active labor market policies, which are lacking in Jordan.

The Middle East and North Africa (MENA), for a variety of reasons, are unrivaled in their need for bold, creative thinking about their future. But that is precisely why creative thinking about the future of the region — why strategic foresight — is essential. Produced in conjunction with MEI’s Strategic Foresight Initiative, Thinking MENA Futures aims to map out some of the possible futures for the region, as envisioned by thoughtful innovators working today to realize them.

After three years of decline and instability, the Iranian economy has stabilized. Some of the macroeconomic indicators, especially inflation, remain worrying, but the country’s GDP has returned to marginal growth, which is a reminder that the economy has been resilient in the face of massive external and internal pressures. Experts agree that the diversity of economic activity has been the key reason for this resilience. This piece explores three potential medium-term scenarios: 1) A return to the JCPOA; 2) An interim deal that would ease the sanctions pressure; and 3) A continuation of the current sanctions regime.

The formation of a new government in Lebanon — after more than a year of political deadlock and amid an economic crisis of dizzying severity — is a positive development. The scale of Lebanon’s economic challenges, however, requires a new government capable of breaking with its predecessors’ deliberate inaction. It necessitates strong and genuine political leadership, will, and action to tackle the country’s many pressing challenges, especially in its dysfunctional energy sector.

Egypt is currently the fastest-growing Arab exporter of liquefied natural gas (LNG), according to a report released by the Organization of Arab Petroleum Exporting Countries on Aug. 16. The report showed that Egypt exported around 1.4 million tons of LNG in the second quarter of 2021, having not exported any LNG during the same period in 2020.

OPEC+ oil producers are unlikely to step back from their plans to increase production, as both the short-term market forecasts and long-term expectations of structural changes in the global oil market are forcing producers to focus more on market share expansion.