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Japan's Foreign Minister asks UAE to help stabilize crude oil prices | News | Japan Bullet

Japan's Foreign Minister Asks Uae To Help Stabilize Crude Oil Prices


Japan's Foreign Minister asks UAE to help stabilize crude oil prices

Japanese Foreign Minister Hayashi Yoshimasa has urged the United Arab Emirates to help stabilize crude oil prices that have been soaring due to the situation over Ukraine.

Hayashi, who is visiting the UAE, held an online meeting on Sunday with Minister of Industry and Advanced Technology Sultan Al Jaber, who doubles as the chief executive of a state-run oil firm.

Hayashi said about 30 percent of Japan's crude oil imports come from the UAE, and expressed concern about the surging prices.

He called for the Middle Eastern country to contribute to stabilizing the global crude oil market by increasing supply and securing production capacity as a major member of the OPEC Plus group.

Jaber is said to have expressed a strong desire to support Japan through such measures as stabilizing the market and efforts for decarbonization.