Japanese Minister Visits Middle East Oil-Producing Nations, Hopes to Promote Stable Crude Oil Supply
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Japanese Minister of Economy, Trade and Industry, Akazawa Ryosei, visited Saudi Arabia and the United Arab Emirates this week to discuss stable crude oil supply. Amid concerns about the continuous blockade of the Strait of Hormuz due to conflicts in the Middle East, he reached a consensus with ministers from both countries to concretize cooperation on increasing crude oil reserves in Asia and Japan's investment in alternative supply channels. Both nations are major crude oil suppliers to Japan.