WorldMoney & BusinessUAE
Japan asks UAE to increase oil outputs
Japan asked the UAE to increase oil exports, as major importers step up pressure on OPEC to help bring down crude prices.
Japan “would like the UAE to contribute to the stabilisation of the global crude oil market by further supplying crude oil and securing production capacity”. The UAE government is yet to comment on the same.
The US and Europe have called on members of the Organization of Petroleum Exporting Countries – especially the UAE and Saudi Arabia – to raise crude output faster following a surge in prices above $100 a barrel. They’ve risen because of demand recovering from the coronavirus pandemic and, more recently, the Ukrainian crisis.