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The Times

Nations will release an extra 400 million barrels of oil to the market. All we need to do now is not panic at the pump

  • Written by Tony Wood, Senior Fellow in Energy and Climate Change, Grattan Institute

Despite being one of the world’s top exporters of fossil fuels (coal and gas), Australia has little left of its own oil. Neither does New Zealand.

Both Australia and New Zealand sit at the end of a long supply chain for their transport fuels. The US-Israel war on Iran has led to this supply chain being squeezed. Iran’s move to shut...

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