India, March 6 -- Qatar's energy minister on Thursday warned that the ongoing conflict in the Middle East could "bring down" world economies and that the Gulf energy exporters would shut down production within weeks.

Energy minister, Saad al-Kaabi, told Financial Times in an interview that the current war will have a drastic effect on the economies of the world. "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," he said.

The minister further predicted that there will be a shortage of some products and there will be a chain reaction of factories that cannot supply.

The current conflict in the Middle East began with the US and Israel's attack on Iran and ...