The Middle East once seemed inseparable from oil — a resource that anchored state budgets, political bargains and global strategic partnerships. Now, that era of oil-led stability is fading into history, and something new — yet uncertain — is emerging in its wake. The region appears to be caught between two worlds: no longer anchored by oil’s political gravity, and not yet equipped with a stable, inclusive framework for a post-oil future. This is not merely an economic transition; it is a political and governance conundrum unfolding in an increasingly multipolar global order.
The myth of transition without…
