Qatar has warned that all Gulf energy producers may soon halt exports which could potentially drive oil prices to $150 a barrel, Energy Minister Saad al-Kaabi told the Financial Times in an interview published on Friday.
“Everybody that has not called for force majeure, we expect will do so in the next few days if this continues. All exporters in the Gulf region will have to call force majeure,” Kaabi said.
The potential shutdown represents a serious shock to global markets. One expert told ProPakistani that $150 oil within two to three weeks is not just a forecast but a warning of an inflationary spiral and a looming liquidity crunch. If Gulf exporters declare force majeure, it could disrupt the world’s swing export region, traditionally seen as the most resilient source of crude and LNG.
“This could permanently reprice the geopolitical risk premium in crude and LNG,” he added.
Another source described the move as a tactical pressure on the United States, noting it might harm Qatar in the long term but could inflict greater disruption on Western buyers compared to Asian markets.
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