“#Australia is the only International #Energy Agency member consistently failing to meet requirements for 90 days of stocks to cover periods of emergency. The 90-day obligation allows the #IEA to trigger a collective stock release in case of an emergency. In that scenario, the country would make a proportional share of its #oil reserve available to the market.”

🛢️the new 🧻

#Straya / #AusPol / #labor #McMahon <https://theguardian.com/australia-news/2026/mar/03/chris-bowen-urges-motorists-not-to-panic-buy-petrol-as-oil-prices-jump-amid-iran-conflict>