ISTANBUL
Japan on Thursday urged Saudi Arabia and other oil-producing nations to increase supplies in order to stabilize the global oil market.
“The Government of Japan will urge oil-producing countries to stabilize the global crude oil market by increasing production and investing in production capacity,” said Chief Cabinet Secretary Hirokazu Matsuno at a press conference.
His remarks come as fuel prices rise amid the ongoing Israel-Hamas armed conflict, threatening its impact on the global economy.
“Saudi Arabia as an oil-producing country we asked them to produce more petroleum so that there will be a contribution to the stability of the international crude oil market,” Matsuno added.
On Wednesday, the Saudi king and Japan’s prime minister spoke by phone about the situation in Gaza and humanitarian aid.
The conflict in Gaza, under Israeli bombardment and blockade since Oct. 7, began when Hamas initiated Operation Al-Aqsa Flood, a multi-pronged surprise attack that included a barrage of rocket launches and infiltrations into Israel by land, sea, and air. It said the incursion was in retaliation for the storming of the Al-Aqsa Mosque and growing violence by Israeli settlers.
The Israeli military then launched Operation Swords of Iron against Hamas targets in the Gaza Strip.
Gaza is experiencing a dire humanitarian crisis, with no electricity, while water, food, fuel, and medical supplies are running out.
UN Secretary-General Antonio Guterres has called for an “immediate humanitarian ceasefire” to ease the “epic human suffering.”
More than 3,500 Palestinians have been killed in Israeli attacks on Gaza, while the figure stands at more than 1,400 people in Israel.
