Energy and Economics

The outbreak has temporarily shifted the two sides from squabbling over the ‘deal of the century’ to cooperating against the ‘pandemic of the century,’ though bitter political differences continue to cause tensions.

Given that the local economic repercussions of COVID-19 could be severe, Washington should prepare for the prospect of instability erupting in Africa’s largest country.

Read or watch an expert conversation on the immediate and long-term effects of the Islamic Republic’s response to the pandemic. How will Iranian politics change? How much aid can Tehran get under sanctions? How will the global economic slowdown affect daily life there?

The market appears to doubt that the deal will suffice, and royal family dynamics could push the oil crisis into further rounds.

Reflecting just how emboldened the Houthis have become, their latest ceasefire document advocates maximalist positions on core issues while demanding that other actors foot the bill for reconstruction, reparations, economic recovery, and virus containment.

Both governments have gone “crazy” in the fast-moving price war, but the White House is apparently divided on who to blame and how much to get involved.

Viewing regional issues through this broader strategic lens will require Washington to accept painful trade-offs and take a tougher stance with difficult allies.

Beijing has steadily become Tehran’s economic ventilator, diplomatic prop, and military enabler, and the Iranians need this backstop now more than ever.

Total U.S. production from all sources will remain the world’s largest no matter how low prices go, leaving Washington (and Texas) with considerable room to help domestic companies and press Riyadh and Moscow on stabilizing prices.