Japanese PM holds talks with Saudi Arabia on oil supplies

DUBAI: Japanese Prime Minister Fumio Kishida on Thursday held talks with Crown Prince Mohammed bin Salman regarding Saudi oil output in the wake of Russia’s invasion of Ukraine.

During their discussions, Japan’s premier praised the Saudi leadership for its role in stabilizing the crude oil market.

The talks took place following the Russian invasion that has resulted in a raft of Western sanctions on Moscow and subsequent disruption to global energy markets. The situation has placed the spotlight on Gulf energy exporters, such as the UAE and Saudi Arabia, as countries look for supplies to replace Russian oil.

British Prime Minister Boris Johnson on Wednesday visited the UAE and Saudi Arabia to bolster UK economic and business ties with the two nations.

The West fears that maintaining oil output at current levels could lead to a sharp rise in the price of crude and ultimately trigger a global recession.