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China’s ban on fuel exports is deeply worrying for Australian air travellers
Samantha Hepburn does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Deakin University provides funding as a member of The Conversation AU.
Australia’s vulnerability to liquid fuel shortages and price hikes has intensified amid reports China has told oil refiners to halt all fuel exports. This adds to continued global uncertainty about the duration of the Iran conflict and its impact upon oil supplies.
On Friday, the Australian Financial Review reported China had notified oil refiners to halt all exports, casting doubt over at least two cargoes due to be shipped to Australia.
Australia exposed in global scramble for fuel
China’s decision to cancel contracts to ship fuels to foreign buyers risks leaving an underprepared Australia badly exposed, as Energy Minister Chris Bowen conceded for the first time that war in the Middle East and the resulting global scramble for energy could lead to shortages within a month.
As the price of oil again climbed above $US100 a barrel, China told oil refiners to halt all fuel exports, casting doubt over at least two cargoes due to be shipped to Australia.
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