Qatar has warned that a prolonged conflict in the Middle East could trigger a major global economic crisis. The country’s Energy Minister, Saad al-Kaabi, said the ongoing tensions involving Iran could disrupt energy supplies and affect economies around the world.
According to him, the conflict could force several oil and gas exporters in the Middle East to halt production within weeks. If that happens, global oil prices could surge above $150 per barrel, a situation that may slow economic growth across many countries.
Qatar, one of the world’s biggest exporters of liquefied natural gas, recently suspended production at its Ras Laffan Industrial City facility after drone attacks linked to the conflict. The disruption forced the country to declare force majeure, meaning it cannot temporarily meet some supply contracts.
The minister also warned that Europe and other regions could face energy shortages as buyers compete for limited gas supplies. Rising energy costs, he added, could cause production problems for industries and lead to wider economic challenges worldwide.
