Tokyo Gas Co. is in discussions with multiple U.S. liquefied natural gas suppliers to secure a long-term purchase agreement, as rising energy demand leaves Japan increasingly dependent on the fuel source.
In May and June, the Organization of the Petroleum Exporting Countries and its partners are due to add 411,000 barrels a day each month. Ministers will decide on July production levels during a video-conference on June 1, and Goldman Sachs Group Inc. predicts they will agree a third and final hike of about 411,000 barrels a day.