Nikkei reports Saudi Arabia and the UAE will help Asian countries accumulate oil
reserves. Japan-led Asia Zero-Emissions Community, comprising 11 countries, held
a ministerial meeting Thursday in the Philippines; senior Saudi and UAE
officials will attend special consultations and are expected to signal
cooperation on reserve accumulation. The International Energy Forum will meet in
Saudi Arabia on Oct. 11; Japan is expected to present a framework for
Asia-Middle East cooperation. The community plans a joint statement to form the
basis for talks with Middle Eastern producers, followed by bilateral discussions
to finalize scale and mechanics; Saudi and UAE officials are expected to expand
exports to target countries and prioritize supply in emergency situations.
