Oil At $150 In Weeks? Qatar Minister Sounds Alarm As West Asia War Chokes Global Supply

Last Updated:March 06, 2026, 16:02 IST

Qatar's energy minister said the full extent of damage to the Ras Laffan facility was still being assessed and that it was unclear how long repairs would take.

Qatar’s energy minister sounded a stark alarm over the economic fallout from the escalating West Asia conflict, warning that oil prices could surge to $150 a barrel, Gulf energy exports could grind to a halt and GDP growth worldwide would take a serious hit if hostilities persist for even a few more weeks.

Saad al-Kaabi, who also serves as chief executive of QatarEnergy, told the Financial Times that the war had already forced Qatar to declare force majeure after an Iranian drone strike hit Ras Laffan- the country’s largest liquefied natural gas (LNG) facility- and warned that other Gulf exporters were on the brink of doing the same.

“Everybody that has not called for force majeure we expect will do so in the next few days that this continues. All exporters in the Gulf region will have to call force majeure," he said, adding, “If they don’t, they are at some point going to pay the liability for that legally, and that’s their choice."

News world Oil At $150 In Weeks? Qatar Minister Sounds Alarm As West Asia War Chokes Global Supply

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