Saudi Arabia, UAE Willing to Support Push to Boost Asia's Oil Stockpiles, Japanese Minister Says

09:22 AM EDT, 10/08/2026 (MT Newswires) -- Saudi Arabia and the United Arab Emirates expressed willingness to cooperate in a Japan-initiated effort to bolster oil stockpiling capacity in Asia, Bloomberg News reported Thursday. Takagi Kei, Japan's state minister of economy, trade and industry, told reporters in Manila, Philippines, that both Middle Eastern countries were open to cooperating as their officials joined a special session of the Asia Zero Emission Community on Thursday to discuss cooperation on oil purchases and strategic stockpiles. Under the proposed framework, buyer countries could negotiate bilateral supply arrangements with Middle Eastern producers, the report said.