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Qatar Warns Middle East Conflict Could Push Oil to $150, Choke Gulf Energy Supply
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Oil at $150? Qatar Warns Gulf Exports May Halt, Global Economies Face Collapse
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Moneycontrol
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06-03-2026, 16:50
Oil at $150? Qatar Warns Gulf Exports May Halt, Global Economies Face Collapse
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Qatar's energy minister Saad al-Kaabi warns Middle East war could halt Gulf energy exports, pushing oil to $150.
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Prolonged conflict could force Gulf producers to declare force majeure, impacting global GDP and raising energy prices.
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A drone strike on Qatar's Ras Laffan LNG facility led to force majeure, with damage assessment ongoing and repair taking weeks to months.
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Disruption of the Strait of Hormuz could send crude prices to $150 and natural gas to $40/MMBtu, impacting global supply.
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Qatar's North Field expansion plans face delays, and production was halted due to safety concerns and imminent threat warnings.
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