Minister of Petroleum and Mineral Resources Eng. Ali Bin Ibrahim Al-Naimi on Wednesday said that the Kingdom would continue to provide Japan with a stable supply of crude oil at ‘moderate’ prices, according to Japanese Minister of Trade Shoichi Nakagawa.
Nakagawa was speaking after a one-hour meeting with Al-Naimi, who is in Tokyo to discuss economic cooperation between the two countries. “Al-Naimi said that Saudi Arabia will continue to supply crude oil to Japan without any disruption and will maintain oil prices at a moderate level,” Associated Press quoted Nakagawa as saying.
Before arriving in Tokyo, Al-Naimi visited Seoul and Beijing to hold talks on cooperation in the oil sector and on infrastructure projects. Al-Naimi’s trip followed a decision last week by the Organization of Petroleum Exporting Countries (OPEC) to go ahead with a plan to cut the group’s collective production ceiling by 1 million barrels per day to 23.5 million barrels, effective from 1 April 2004.
Source: SPA
