The energy minister of Qatar, Saad al-Kaabi, warns that the war in the Middle East could lead to a halt in energy production and an increase in oil prices.

Saad al-Kaabi, the energy minister of Qatar, stated that the war in the Middle East could "collapse the world's economies," estimating that energy-exporting countries in the Persian Gulf might have to halt production within a few days. This could lead to an increase in oil prices up to 150 dollars per barrel.

Qatar, the second largest producer of liquefied natural gas (LNG), declared a force majeure following a drone attack on its gas facility in Ras Laffan. Although a small portion of Qatari gas reaches Europe, al-Kaabi emphasized that the European market will feel the effects, as buyers in Asia may bid more aggressively.

He warned that if the situation continues, all companies in the region may have to declare force majeure to avoid legal consequences. These declarations reflect growing concerns about the economic impact of the conflict between the United States, Israel, and Iran on the resource-rich region.