Saudi Arabia and UAE join Japan-led push to bolster Southeast Asia’s oil stockpiling capacity

The Economic Times, carrying Bloomberg reporting, says Saudi Arabia and the UAE expressed willingness to help strengthen oil stockpiling capacity in Asia. Their officials joined a meeting of Japan’s Asia Zero Emission Community in Manila, where ministers adopted a program to improve stockpiling and responses to supply shocks. Japan announced $10 billion in financial support for Southeast Asian countries in April amid war-related oil supply disruptions.