Qatar's Energy Crisis: Gulf Exports on the Brink

Qatar warns of a potential shutdown of Gulf energy exports due to regional conflicts, which could drive oil prices up to $150 a barrel. Energy Minister Saad al-Kaabi stated that even with an immediate end to hostilities, normalcy would take weeks to restore. Qatar halted LNG production amidst ongoing unrest.

In a recent interview with the Financial Times, Qatar's Energy Minister Saad al-Kaabi revealed that all Gulf energy producers might soon halt exports, potentially skyrocketing oil prices to $150 a barrel.

Kaabi warned that exporters in the Gulf region would likely declare force majeure if the current situation persists, leading to significant disruptions even if hostilities were to end promptly.

Qatar's LNG production, covering 20% of the global supply, ceased on Monday amid retaliation actions by Iran following Israeli and U.S. strikes, though offshore operations remain undamaged, Kaabi reported.

(With inputs from agencies.)