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Commodities Briefing - Categorized | Oil, Trading more

Saudi to sign emergency oil supply with Japan

Posted on 11 February 2013

The agreement would allow Japan to quickly seek additional oil supplies via a telephone hotline. Japan and Saudi Arabia will sign an agreement that will allow Tokyo to make emergency requests for additional supplies of crude oil, Japan’s Nikkei newspaper reported.
The agreement would set up a telephone hotline between the two governments to allow Japan to quickly seek additional oil supplies in the event of extraordinary circumstances such as terrorist attacks, unrest in the Middle East or a spike in the price of oil. Japanese Economy, Trade and Industry Minister Toshimitsu Motegi will travel to Saudi Arabia on Saturday to sign the pact, Nikkei said………………………………………..Full Article: Source


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