Australia's explorers step up hunt for oil after big find - Reuters

Australia's explorers step up hunt for oil after big find - Reuters:

Australia’s oil exploration has picked up over the past year following the country’s biggest find in more than two decades, and could drive a resurgence in production that has fallen to a near 50-year low.

A successful hunt for liquids could eventually beef up fuel security in Australia, which relies on imports for most of its oil needs, and whose vulnerability was highlighted after attacks on Saudi Arabia’s oil facilities last month.

With just 58 days worth of annual oil imports as at June 2019, Australia is the only member of the International Energy Agency that has not stockpiled 90 days of oil.