If the ongoing war in the Middle East continues for a few more weeks, it may have an impact on the economy of the entire world. Qatar's Energy Minister Saad al-Kaabi has warned that in such a situation, the supply of oil and gas from Gulf countries may stop and the price of crude oil may reach $ 150 per barrel.

The world economy may be affected

The Energy Minister says that if the war continues for a long time, the energy producers of the Gulf region may have to declare force majeure. This means that companies can stop supplies due to extraordinary circumstances. He said that if this situation continues then the world economy will be seriously affected. Energy prices will increase and economic growth of many countries may slow down.

Danger of stopping oil and gas supply

Gulf countries supply not only oil and gas but also the raw materials required for making petrochemicals and fertilizers in large quantities. If exports from here stop, many industries may be affected. There may also be a situation of stoppage of production in factories.

BREAKING: ⁠Qatars ⁠Minister of Energy Saad al-Kaabi ⁠says US-Israeli war on Iran could bring down the economies of the world, predicting all Gulf energy exporters would shut down production within weeks.

LIVE updates: https://t.co/FaZ0okyXR5 pic.twitter.com/XjqlFI3KEF

— Al Jazeera English (@AJEnglish) March 6, 2026

Drone attack on Qatar's LNG plant

Qatar, one of the world's largest LNG producers, has also had to face the impact of this conflict. After a drone attack by Iran, work at Qatar's largest LNG plant Ras Laffan had to be stopped. According to officials, the damage is still being assessed and it is not clear how much time the repairs will take.

Threat to the Strait of Hormuz

Experts say that if the movement of ships in the Strait of Hormuz is disrupted, there could be huge turmoil in the global energy market. About 20% of the world's oil and gas supply passes through this sea route. According to the Energy Minister, if this route remains closed for a few weeks, the price of crude oil can reach $ 150 per barrel in 23 weeks.

Impact on LNG expansion plan also

The war may also affect Qatar's big gas project. The project, which is running at a cost of about $30 billion, aims to significantly increase the country's LNG production capacity by 2027. However, due to security reasons, some production has been stopped at present and about 9,000 employees have been sent to safe places. Officials say that production will be resumed only after the situation becomes normal.