TOKYO: Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan has reiteriated Russia’s position as an integral part of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, and added that without the alliance it would be impossible to properly ensure adequate oil supplies to the market.

Speaking at an Arab News Japan Roundtable event on July 19 in Tokyo, Prince Faisal began his talk by mourning late Japanese PM Shinzo Abe.

He then went on to talk about the strengthening Saudi-Japanese relation despite the two year gap which came as a result of the coronavirus pandemic.

The minister revealed parts of what went on during the recent visit of US President Joe Biden to Jeddah, and reiterated the Kingdom’s commitment to stablizing energy markets.

The Saudi foreign minister said at the panel, which took place at the Foreign Correspondents’ Club of Japan where Arab News Japan first launched two and a half years ago: “We don’t see a lack of oil in the market, there is a lack of refining capacity.”

He added: “Russia is an integral part of OPEC+. Without OPEC+ cooperation as a collective it would be impossible to properly ensure adequate oil supplies.”

The discussion was moderated by Arab News Japan’s Regional Head Ali Itani and was open to a Q&A by leading Japanese media outlets such as NHK, Jiji Press, Kyodo News, TV Tokyo, Asahi Shimbun and Yomiuri Shimbun.

The roundtable took place in the presence of Saudi Arabia’s Ambassador to Japan Nayef Al-Fahadi as well as the Ambassador of Japan to Saudi Arabia Fumio Iwai.