did Australia import more crude oil after the floods?



  1. 0 Votes

    I was unable to find a definitive answer, but it seems that, due to the crippling effect the Queensland floods had on the coal industry, demand for oil as an alternative energy source increased, at least temporarily. Crude oil would have to have been imported, since Australia’s crude production is low. Oil prices remain high, but coal prices have risen significantly as well.

  2. 0 Votes

    Australia’s oil imports declined significantly in January. More info in the link.

    Australia produces about 550,000 barrels per day and consumes about 950,000 barrels, but the floods did not cause their oil imports to increase; they declined by 29%.

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