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Bloomberg
Australia will increase its oil stock through an agreement with the US to help support the global market, following a video conference with G-20 energy ministers.
Energy markets in Australia were operating safely and
securely and the government is working with the sector to maintain supply for electricity, gas and liquid fuels, Energy Minister Angus Taylor said in a statement.
The nation is looking to finalise commercial terms for its strategic petroleum reserve pact with the US, he said.