00:00A fire at Australia's largest refinery has added to the pressure the country is already under, as fuel supplies globally
00:07remain under strain.
00:09An energy analyst at the Institute for Energy Economics and Financial Analysis, Kevin Morrison, says the country should definitely be
00:17concerned, despite assurances from Australian Prime Minister Anthony Albanese.
00:23Yeah, this fire is going to have a very big impact because the Geelong refinery, it is Australia's biggest.
00:30So there's only two refineries here. Together, they supply about 22% of Australia's fuel needs.
00:36So therefore, we're very reliant on the importing oil, oil products, that is, the finished product.
00:43And so, you know, there's a very tight market conditions existing in Australia because like the rest of the Asia
00:52Pacific, we're facing the worst oil supply crisis that the region has ever experienced.
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