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Australia Looks to Siphon U.S. Oil Stockpile to Avoid Running Out of Gas

WSJ Original article ›

Keywords: Australia Oil,

LyrArc Article Gist
As Australia lacks its own strategic petroleum reserves and with shipping security in the Persian Gulf threatened, Australia has to find a way to meet a oil supply shock. Australia is the only country in the 30 member International Energy Agency that does not have enough storage for 3 months of oil imports. The U.S. is considering opening its emergency oil reserves to Australia as the country plays a larger role in security in the region.



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