Heat the olive oil in a large cast-iron skillet (or any heavy-bottomed pan with a lid) over medium heat. Add the chopped onion and red bell pepper. Cook for about 5-7 minutes until the vegetables are very soft and the onions are translucent.
Add the minced garlic, tomato paste, cumin, smoked paprika, and cayenne pepper to the skillet. Stir constantly for 1-2 minutes until the tomato paste darkens and the spices become incredibly fragrant.
Pour in the crushed tomatoes. Season with a generous pinch of salt and black pepper. Bring the mixture to a gentle simmer, reduce the heat to low, and let it cook uncovered for 10-15 minutes until the sauce has reduced and thickened nicely.
Using the back of a large spoon, make 5-6 small wells in the thick tomato sauce. Carefully crack one egg into each well. Season the top of each egg lightly with salt and pepper.
Cover the skillet with a lid. Let the eggs cook for 5-8 minutes, depending on how runny you like your yolks. Check frequently—they cook fast once covered!
Remove the skillet from the heat. Generously sprinkle crumbled feta cheese and fresh chopped parsley over the top. Serve immediately right out of the skillet with thick slices of toasted sourdough bread for dipping.