Qatari oil and gas exports are continuing despite restrictions on accessing ports around the Gulf. Abu Dhabi’s measures against Qatar are complicated by transboundary operations, while IOCs with assets in both countries will be lobbying to minimize restrictions.

Saudi Arabia and the UAE’s cessation of diplomatic ties with Qatar this week (see p2) has raised serious concerns about the potential impact this will have on global oil and gas markets. The good news is that while there...