A ministerial meeting of the Asia Zero Emission Community (AZEC), a cooperation framework of 11 countries including Japan and Southeast Asian nations, was held on the 8th in the Philippine capital of Manila, where participants discussed measures to strengthen oil reserves as the importance of energy security grows amid a worsening situation in the Middle East. In a video message to the meeting, Economy, Trade and Industry Minister Ryosei Akazawa pointed out that uncertainty over energy supply will continue, and called for cooperation, saying, "We must join forces to make supply and demand systems more resilient."
AZEC ministerial discusses oil reserve measures due to Middle East concerns; no specific supply change, leaving Brent direction unclear.
AZEC meeting on strengthening oil reserves amid Middle East instability; no concrete supply/demand action, so impact on WTI is unclear.
