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Sting in pipeline as oil output dips |
| Home | (The Age) - DECLINING self-sufficiency in oil could force Australia to increase its strategic stockpile to meet International Energy Agency obligations. Member countries are required to hold the equivalent of 90 days of net imports. As a net exporter of oil in the past, Australia has not had to build a strategic reserve, other than account for products held at refineries, which the Government, through the IEA, would control during times of serious supply disruptions. |