• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 days Does Toyota Know Something That We Don’t?
  • 5 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 2 days World could get rid of Putin and Russia but nobody is bold enough
  • 1 day America should go after China but it should be done in a wise way.
  • 5 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 4 days China is using Chinese Names of Cities on their Border with Russia.
  • 5 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 4 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 10 days huge-deposit-of-natural-hydrogen-gas-detected-deep-in-albanian-mine
  • 5 days Putin and Xi Bet on the Global South
  • 5 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 6 days United States LNG Exports Reach Third Place
  • 6 days Biden's $2 trillion Plan for Insfrastructure and Jobs

Breaking News:

U.S. Crude Oil, Gasoline Inventories Boom

Japan Discusses High Oil Prices With The UAE

Japan, a major importer of energy products, and the United Arab Emirates (UAE), one of OPEC's top producers, have agreed to cooperate in stabilizing the crude oil market, Japanese Prime Minister Fumio Kishida said on Tuesday.

"I talked with UAE (United Arab Emirates) Crown Prince Mohammed over the phone ... and agreed to cooperate to bring about stability in the international crude oil market," Reuters quoted Kishida as saying at a news conference.

Asked whether Japan has called on the UAE to raise oil production more than planned, the Japanese prime minister declined to comment. 

Japan has asked the UAE to make "proactive contributions" as a major oil producer amid surging energy prices, Kyodo News quoted Kishida as saying. 

On Tuesday, Kishida spoke over the phone with Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, with whom he discussed international issues, including the oil market.

"During the call, Sheikh Mohamed bin Zayed stressed the UAE's keenness to maintain energy security and stability of global markets in light of recent developments, as well his desire to strengthen relations with Japan, especially energy ties," Emirates news agency WAM reported

Last week, Japan said it was considering its options about Russian oil after the United States banned U.S. imports of energy from Russia, including oil, coal, and LNG.

"We'd like to work together with (other) Group of Seven nations and the international community to handle the matter, while considering a stable energy supply and security as the best interests of Japan," Kishida said back then.


The UAE, for its part, was responsible for a lot of volatility in the oil market last week, after saying first it would encourage fellow OPEC members to boost their production above their agreed quotas, only to backtrack on these assurances a day later. UAE energy minister Suhail al Mazrouei said that "The UAE believes in the value OPEC+ brings to the oil market."

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News