AZEC Manila: Japan, Saudi Arabia, UAE pledge oil security
World
Japan just joined forces with Saudi Arabia and the United Arab Emirates (UAE) to help Southeast Asia keep its oil flowing, especially if things get shaky in the Middle East.
The announcement came out of a big energy meeting, AZEC, in Manila, where leaders agreed that working together is key for future energy stability.
Japan offers $10bn for oil reserves
Japan is putting $10 billion on the table to help Southeast Asian countries handle rising oil prices and build up their emergency reserves.
The plan also means more direct deals with Middle Eastern suppliers, so there's backup if global tensions flare up again: something leaders say is crucial as the region still relies heavily on imported oil.