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Kuwait pledges more oil for Japan

July 28, 2008 at 5:00 PM

TOKYO, July 28 (UPI) -- Japan Monday received pledges from the visiting Kuwait premier that Kuwait will increase the flow of oil to meet rising energy demands in Asia, officials said.

"Oil is important for Japan-Kuwait relations, so Kuwait would like to continue to supply Japan," Kuwaiti Prime Minister Sheik Nasser Mohammed al-Ahmed al-Sabah told his Japanese counterpart, Yasuo Fukuda.

The Kuwaiti prime minister also discussed future collaboration on various energy talks, Middle East Online reported. In June, Kuwait said it would boost its crude output by 300,000 barrels per day by 2009 to meet global energy demands.

"Oil is a limited resource, and we both need to make efforts to use it effectively. It would be good if we can cooperate on oil research," Fukuda said.

Fukuda also called on Kuwait to "take concrete measures to improve market transparency" in the wake of the volatile energy market.

Sabah responded by noting oil prices are linked to geopolitical tensions, as well as supply and demand.

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