At a press conference yesterday, Japan’s Chief Cabinet Secretary Hirokazu Matsuno announced that “the Government of Japan will urge oil-producing countries to stabilise the global crude oil market by increasing production and investing in production capacity”, adding that it asked Saudi Arabia especially “to produce more petroleum so that there will be a contribution to the stability of the international crude oil market.”
Japan’s request comes amid widespread concerns that Israel’s bombardment of the besieged Gaza Strip will severely destabilise the market and subsequently the global economy.
Source: Middle East Monitor
