Oil price at two-year high after Qatar warns all Gulf production could stop within days
Energy Minister Saad al-Kaabi says oil could hit $150 a barrel if the Iran conflict continues over the coming weeks.
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Notable Quotes
"If this war continues for a few weeks, GDP growth around the world will be impacted."
— Saad al-Kaabi , Executive
"I think we're on the edge of trying to understand if this is a very short energy crisis with limited implications, or if we're at the beginning of a massive economic and energy crisis."
— Jorge Leon , Other
"If tankers and other merchant vessels cannot pass through the Strait of Hormuz, oil prices could reach $150 a barrel within two to three weeks."
— Saad Sherida al-Kaabi , Executive
"If this war continues for a few weeks, GDP growth around the world will be impacted."
— Saad al-Kaabi , Executive
"If this war continues for a few weeks, GDP growth around the world will be impacted."
— Saad al-Kaabi , Executive
"Everybody who 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."
— Saad Sherida Al Kaabi , Executive
"If this war continues for a few weeks, GDP growth around the world will be impacted."
— Saad Sherida Al Kaabi , Executive
"Everybody’s energy price is going to go higher. There will be shortages of some products and there will be a chain reaction of factories that cannot supply."
— Saad Sherida Al Kaabi , Executive
"Even if the war ended immediately, it would take Qatar 'weeks to months' to return to a normal cycle of deliveries."
— Saad Sherida Al Kaabi , Executive
"Crude prices could hit $150 a barrel in two to three weeks if ships and tankers are unable to pass through the Strait of Hormuz."
— Saad Sherida Al Kaabi , Executive
"If this war continues for a few weeks, GDP growth around the world will be impacted. Everybody’s energy price is going to go higher. There will be shortages of some products and there will be a chain reaction of factories that can’t supply."
— Saad al-Kaabi , Executive
"Everybody that has not called for force majeure we expect will do so in the next few days that this continues."
— Saad al-Kaabi , Executive
"If this war continues for a few weeks, GDP growth around the world will be impacted."
— Saad al-Kaabi , Executive
"It will delay all our expansion plans for sure."
— Saad al-Kaabi , Executive
Key People
Jorge Leon is the head of geopolitical analysis at Rystad Energy.
Saad al-Kaabi is the Energy Minister of Qatar.
Qatar's Energy Minister responsible for overseeing the country's energy sector.
Minister of State for Energy Affairs and the President and CEO of QatarEnergy.
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All Coverage
Energy Minister Saad al-Kaabi says oil could hit $150 a barrel if the Iran conflict continues over the coming weeks.
Qatar's Energy Minister Saad al-Kaabi warns that escalating Middle East tensions could lead to a significant global energy crisis, with oil prices potentially surging to $150 per barrel if supply routes remain disrupted.
Following Qatar's warning about potential Gulf production halts due to the Iran conflict, oil prices have surged, with Brent crude climbing over 4% to trade above $89 a barrel.
Oil prices have risen to their highest level in over two years after Qatar's Energy Minister Saad al-Kaabi warned that Gulf oil and gas exporters might halt production within days due to the ongoing Middle East conflict.
Qatar's Energy Minister Saad al-Kaabi warns that all Gulf energy producers may halt exports within weeks if the Iran conflict continues, potentially driving oil prices to $150 per barrel.
Oil prices surged after Qatar's Energy Minister Saad al-Kaabi warned that Gulf oil and gas exporters might halt production within days due to the ongoing Middle East conflict.
Oil prices have reached a two-year high following Qatar's warning that escalating Middle East tensions could lead to a halt in Gulf oil and gas production within days.
Qatar's Energy Minister Saad al-Kaabi forecasts that crude oil prices could reach $150 per barrel within two to three weeks if the Iran conflict continues and disrupts Gulf energy exports.
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