<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>If </span><a href="https://www.9news.com.au/oil" rel="" target="" title="oil"><span>oil</span></a><span> stopped flowing around the world tomorrow, different countries would find themselves in markedly different levels of a bind, and the figures don't paint an overly pretty picture for </span><a href="https://www.9news.com.au/australia" rel="" target="" title="Australia"><span>Australia</span></a><span> – although the government says there's a good reason for it.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The war in the Middle East and ensuing </span><a href="https://www.9news.com.au/world/us-israel-attacks-iran-strait-of-hormuz-explained-oil-gas-prices/f8e7c1ed-f6d9-4fe5-8277-6a11c09d8de6" rel="" target="" title="effective closure of the Strait of Hormuz"><span>effective closure of the Strait of Hormuz</span></a><span> have brought national strategic oil reserves into sharp focus.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The federal government has repeatedly stressed Australia's fuel supply is secure in the short-term - while six shipments were cancelled or deferred, they have since been replaced, and three extras have been secured.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>EXPLAINED:</span></strong><span> </span><a href="https://www.9news.com.au/national/fuel-shortage-how-much-does-australia-have-left-explained/f266e2d2-6b91-4166-8f7e-bb424620cc09"><strong><span>How much fuel does Australia have left?</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>At the same time, it's clear the </span><a href="https://www.9news.com.au/national/fuel-shortage-how-much-does-australia-have-left-explained/f266e2d2-6b91-4166-8f7e-bb424620cc09" rel="" target="" title="nation's domestic supplies"><span>nation's domestic supplies</span></a><span> are far more meagre than those of many other developed economies</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>As a member of the International Energy Agency (IEA), Australia is obliged to hold at least 90 days worth of fuel.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Canberra doesn't have a strategic stockpile as some other nations do, but instead requires oil companies to maintain a "minimum stock holding" of emergency reserves.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/fuel-shortage-australia-how-does-emergency-stockpile-compare-to-rest-of-the-world/bb0711c1-11b5-4767-b349-fd46344a8b99" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>At the end of last year, Australia had 38 days' worth of gasoline, 32 of diesel and 29 of jet fuel in those holdings – all far short of the IEA's obligation.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Those figures have remained fairly steady since the start of the war.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/april-one-financial-changes-australia-2026-private-health-insurance-energy-rebate-mortgage-rate-explained/144c4981-2270-48be-8661-bc6ef8b33ec4"><strong><span>Aussie households set for triple-whammy bill price hike next month</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Japan, by comparison, had a whopping 254 days' worth of oil in combined government and private reserves, and South Korea around 200.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The United States has the Western world's largest strategic reserve: some 415 million barrels before the war started, good enough for 125 days, according to the White House.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>That is much smaller than it was at the start of the decade, when it was sitting above 650 million barrels, before the Biden administration ordered the release of 180 million barrels in response to the energy shock caused by Russia's invasion of Ukraine.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>On top of the 415 million barrels, the US has a further 439.3 million barrels of commercial reserves in private hands.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Even larger is China's estimated stockpile.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/petrol-prices-australia-five-easy-ways-to-save-fuel-amid-crisis-explainer/99adb81c-b088-4cac-ad68-11ab7061714e"><strong><span>Top tip to save on fuel in Australia's fuel crisis</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The Asian superpower doesn't publish official figures, but according to energy analytics firm Vortexa, its inventory would have hit 1.13 billion barrels at the end of 2025.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Using daily imports of 10.6 million barrels, that's enough for more than 100 days.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>In Europe, nations such as Italy and Germany legally mandate holding at least 90 days' worth of oil in reserve, while French economy minister Roland Lescure said his country's stockpile was sitting at 108 days in early March.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The UK has about 68 million barrels of oil in its stockpile – enough for 52 days, taking the Energy Institute's daily usage estimate of 1.3 million barrels, although other estimates have put it closer to 90 days or more.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Australia is not the only nation that had less than 90 days' fuel at the start of the war. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>New Zealand currently has less than 50, and Canada is the only G7 member which doesn't have a strategic reserve, although, as a net exporter of oil, it's not required to by the IEA.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>FINANCE:</span></strong><span> </span><a href="https://www.9news.com.au/national/how-close-is-australia-to-recession-warning-signs-explained/f6c2e2a9-dc84-4f1c-8de3-d01c8e782eaa"><strong><span>Is Australia headed for a recession? The job data paints a grim picture</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>However, according to official IEA data for December 2025 – which differs slightly from official figures – Australia had the smallest oil holdings of any of the organisation's members, and was the only one with less than 80 days' worth of imports on hand.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The nation hasn't met the 90-day obligation for more than a decade, and Energy Minister Chris Bowen has argued it would be too expensive and not address domestic needs.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Ninety days is not how much petrol is used," he told the </span><em><span>7am Podcast</span></em><span> earlier this week.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"It's a 90-day import days, and they can be held anywhere and it's not for domestic supply. It's to be able to sell it if things get rough and the IEA asks us to.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Now, we don't comply with that. But if we did try to keep 90 days' worth in Australia, that would cost $20 billion over four years… that's $20 billion we're not spending on schools, hospitals or anything like that. So that's a big, big call. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"There's a reason why consecutive governments haven't done the 90 days. I think every new energy minister has asked – I certainly did – 'why don't we do 90 days?'. And you get the advice it's going to cost $20 billion.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"And you think, well, that's pretty hard to find."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/daylight-savings-2026-when-does-it-end-australia-what-to-do-clocks-april-explainer/557ba184-b801-488a-8ded-d2e063cf3e21"><strong><span>Millions of Aussies to get an extra hour of sleep as daylight saving set to end</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>He and the rest of the government has insisted Australia was better prepared before the start of this conflict than it was previously.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"It's a legitimate conversation, but we're actually more prepared… certainly than when we went into Ukraine," Bowen said. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We've got those 38 days of petrol, 30 days of diesel, 30 days of jet fuel and, you know, sure, people can say we need more, but it's a lot more than we've had previously."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>However, some experts have argued Australia should hold more oil on hand because of its place in the supply chain.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Australia remains exposed to global disruptions because it imports a large share of its refined petroleum," Professor Sajid Anwar from the University of the Sunshine Coast said after the outbreak of the war. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"The country typically holds around 30 days of fuel stocks, well below the 90-day level recommended by the International Energy Agency. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Although Australia draws on multiple suppliers, including Singapore, South Korea and Japan, these sources sit within the same Asia-Pacific supply chain, meaning major regional disruptions could still affect supply."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><em><span>NEVER MISS A STORY:</span></em></strong><span> </span><strong><em><span>Get your breaking news and exclusive stories first by following us across all platforms.</span></em></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><ul><li><strong><em><span>Download the 9NEWS App here via</span></em></strong><span> </span><a href="https://apps.apple.com/au/app/9news/id1010533727" target="_blank"><strong><em><span>Apple</span></em></strong></a><span> </span><strong><em><span>and</span></em></strong><span> </span><a href="https://play.google.com/store/apps/details?id=nineNewsAlerts.nine.com&amp;hl=en_AU&amp;pli=1" target="_blank"><strong><em><span>Google Play</span></em></strong></a></li><li><strong><em><span>Make 9News your preferred source on Google by</span></em></strong><span> </span><a href="https://9.nine.com.au/8x987w" target="_blank"><strong><em><span>ticking this box here</span></em></strong></a></li><li><strong><em><span>Sign up to</span></em></strong><span> </span><a href="https://login.nine.com.au/edm?client_id=nineatnine" target="_blank"><strong><em><span>our breaking newsletter here</span></em></strong></a></li></ul></div></div>