Japanese, German leaders demand oil supply stability

German Chancellor Angela Merkel and Japanese Prime Minister Yasuo Fukuda called on Sunday for steps to ensure more oil production and supply stability.

“We cannot ignore the market and just decide something,” Fukuda said after talks with Merkel in Berlin.
“The problem is that the oil price is rising faster and this does not only have a negative impact on the economy but on our people,” said the prime minister.

“We should take this rapid rise in the oil price very seriously. What is important is that more oil should be produced and we should invest in this. We need a stable supply.”

“I will support anything that moves in the direction of more transparency in terms of the trade and supply of oil,” Merkel added.

Economic Times