MENA Energy Recap, Q2-2026: Mideast Energy Confronts its Hormuz Era
The MENA Energy Recap is a quarterly review of key energy developments that took place in the region from April through June of 2026 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 Other MoU: Launching a Europe-Gulf Resilience Initiative After the US-Iran Deal
The Islamabad Memorandum of Understanding (MoU) between the United States and Iran may have ended one of the most consequential Middle Eastern crises in decades, but it has not resolved the strategic problem it exposed. Whether the 60-day talks it set in motion will produce a final agreement remains far from certain.Yet the central lessons are already clear: Iran has preserved significant leverage, Washington has had to scale back its ambitions, and Europe and the Gulf face the prospect of protracted regional tension. Europe and the Gulf should therefore use the aftermath of the US-Iran deal to articulate their own “other MoU”: a Europe-Gulf Resilience initiative.
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.
Giorgio Cafiero, CEO and founder of Gulf State Analytics, and F. Gregory Gause, head of the Department of International Affairs at Texas A&M University, join host Jerry Feierstein to discuss the state of GCC relations amid the Qatar dispute and other crises heading into the next GCC Summit.
Monday Briefing: Russians launch air strikes after alleged gas attack
In this week’s Monday Briefing, MEI experts discuss recent and upcoming events including Russian air strikes in Aleppo, the elections in Bahrain, the growing international interest in Egypt’s offshore energy finds, and the appointment of a new Afghan team of negotiators for peace talks.
The cross-currents shaping Washington’s Iranian oil policy
Although the Trump administration has said it will issue temporary waivers to some major importers of Iranian oil, further declines in Iran’s exports are likely after sanctions come into effect on Nov. 4.
Although the current oil-market landscape might seem beneficial to the Gulf states, it will be difficult to sustain amid major drops in global oil supply, Washington’s standoff with Moscow and Tehran, and quota disagreements between Saudi Arabia and Russia.
Iran under Sanctions: India and China over a Barrel
Bearish and bullish factors are both at play in the global oil market, weighing on prices. The next big date on the calendar is November 4 — the point at which the 180-day wind-down period ends and U.S. sanctions on the Iranian energy sector are to be reinstated. Two days later, the U.S. midterm elections are due to take place.
Last week, major news outlets reported that China National Petroleum Corporation had acquired French oil and gas company Total’s share in the development of Iran’s South Pars gas field, citing an elusive article published by Iranian state news agency IRNA.
Even though energy production and exports are the lifeblood of all Arab states in the Gulf, the present crisis between Qatar on the one hand and Saudi Arabia, the United Arab Emirates, Bahrain, and Egypt on the other has had very little influence on the economics of oil and gas either internationally or within the region. However, the countries involved have a lot to gain from a resolution of the conflict, particularly if it leads to greater energy market integration.
In this week’s Monday Briefing, MEI experts Charles Lister, Alex Vatanka, Randa Slim, and Marvin G. Weinbaum provide analysis on the US’s silence amid the Assad regime’s expansion, the Iranian president’s trip to Europe, the uptick in violence after Iraq’s elections, and the upcoming Pakistani parliamentary elections.
As international companies leave Iran under U.S. pressure, the Iranian government is scrambling to salvage as much foreign investment as possible. The top leadership in Tehran believes the solution is to engage with Russia, China, and the “east” to replace the West’s hesitant commitment to the Iranian market. But this eastward approach is a pipe dream, and there is plenty of history to prove it.
Oil in Iraq: pathways to enabling better governance
Despite setbacks from the war against ISIS, Iraq remains the world’s fourth largest producer of oil, second only to Saudi Arabia among OPEC states. However, the administration of this vital natural resource has been plagued by corruption and disputes over how revenues should be allocated to promote equitable economic growth. The issue has drawn Iraq’s ethnic, sectarian, and political divisions to the surface.
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