Genba asks Saudi Arabia to keep oil supplies stable

Kyodo

Visiting Foreign Minister Koichiro Genba asked the deputy foreign minister of Saudi Arabia on Saturday for a stable supply of oil to meet Japan’s growing demand for crude since the Fukushima nuclear crisis last year.

The deputy minister, Prince Abdulaziz bin Abdullah bin Abdulaziz, said the kingdom would cooperate, Japanese officials said.

The two ministers, who met in Riyadh, agreed that oil-price stability is important amid concerns about a potential surge in crude prices as the U.S. and EU move to toughen sanctions against Iran over its nuclear program.

“We will request a stable supply of oil and stability in its price given the situation in the Middle East and as we proceed with reconstruction,” Genba was quoted as saying during the talks.