Analysis: Production cuts by Middle Eastern oil-producing countries have far-reaching effects; oil prices may surge on Monday.

According to Mars Finance, on March 8th, The Kobeissi Letter reported that Kuwait, the UAE, Saudi Arabia, Iraq, and Qatar have all confirmed at least partial suspensions of oil production. Qatar has completely halted its supply of approximately 20% of the world's liquefied natural gas. A bigger problem is that restarting production capacity once oil and gas facilities are shut down is not easy. Once plants stop operating, production could take weeks or even months to return to full capacity. The analysis points out that US stock index futures will open in less than 24 hours: however, with soaring oil prices, the market has not seen any signs of easing tensions in the Middle East. Therefore, the next 24 hours are crucial. Unless intervention occurs, oil prices appear poised to surge to over $100 per barrel.