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🔴 Qatar warns Gulf export countries may collectively halt production, oil prices could rise to $150 per barrel
According to the UK-based Financial Times, Qatar's Energy Minister has issued a warning that the Middle East conflict could "weaken the global economy" and predicts that all Gulf energy-exporting countries will cease production within a few weeks, pushing oil prices up to $150 per barrel.
Saad al-Kaabi stated that even if the war ends immediately, Qatar will still need "a few weeks to several months" to restore normal supply cycles after their largest natural gas plant was attacked by Iranian drones.
As the world's second-largest liquefied natural gas producer, Qatar was forced to declare force majeure this week after the Ras Laffan plant was attacked.
Source: Vnwallstreet