2004 News Story

Oil minister in Japan

Minister of Petroleum and Mineral Resources Ali Al-Naimi, who is in Tokyo to discuss economic cooperation, said today that Saudi Arabia would continue to provide Japan with a stable supply of crude oil and maintain oil prices at a moderate level. Before arriving in Tokyo, Minister Al-Naimi visited Beijing and Seoul.

Last week the Organization of Petroleum Exporting Countries (OPEC) made a decision to go ahead with a plan to cut their collective production ceiling, effective April 1, by one million barrels a day to 23.5 million.