Japan to Urge Oil Producers to Up Output
Newsfrom JapanPolitics Economy
Tokyo, Oct. 18 (Jiji Press)--Japanese Prime Minister Fumio Kishida on Monday morning instructed Chief Cabinet Secretary Hirokazu Matsuno to cooperate with international organizations in urging major oil-producing countries to increase output.
The move comes in response to the recent surge in crude oil prices, which reflected oil producers' decisions to continue to curb production despite a recovery in energy demand.
"We want (oil producers) to consider concrete measures after surely grasping the real situation," Kishida told reporters later in the day.
The government will hold an emergency meeting of related cabinet members Monday afternoon to discuss responses to soaring oil prices.
Kishida also instructed the chief cabinet secretary to closely watch crude oil market trends and their effects on Japanese people's livelihoods. In addition, the prime minister called for measures to be taken swiftly for related industries.
[Copyright The Jiji Press, Ltd.]