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Saudi prince vows stable suppliesUPIApr. 08, 2006 |
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 Saudi Crown Prince Abdallah Bin-Abd-al-Aziz Thursday promised a stable oil supply amid rising prices and fears of a supply disruption. Riyadh will continue to be a stable supplier to attract greater investment from Japan, he said during a visit to Japan, according to the Kyodo news agency. A Japanese trade ministry official said Abdallah promised Toshihiro Nikai, Japan's Economy, Trade and Industry minister, the Saudi Arabia would also contribute to the stabilization of oil prices in the global market. Prices are now hovering around the $65 a barrel range amid fears of supply disruptions due to instability in Nigeria and concerns over Iran's nuclear program. In 2005, 30 percent of Japan's total oil imports came from Saudi Arabia. 
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