The war in the Middle East could bring the world economy to a standstill, Qatar's Energy Minister Saad al-Kaabi told the Financial Times, predicting that the Gulf states' oil and gas production would have to shut down completely within a few weeks.
The price of oil on the world market could then surge to $150 per barrel, compared with Friday's already sharply elevated level of $87 and just over $70 before the war broke out.
Even if the war ends immediately, it would take Qatar weeks or months to return to normal production after facilities were damaged by Iranian drone attacks, according to Saad al-Kaabi.
