Australia not worried about oil shortages

Federal energy minister Angus Taylor has downplayed the risk of Australian motorists paying more at the bowser after attacks on Saudi Arabian oilfields.

A motorist refuels her car at a service station Source: AAP

The man responsible for Australia's fuel stocks does not believe drone attacks on Saudi Arabian oilfields will drive up domestic petrol prices.

The drone strikes are expected to strip at least five per cent from global oil supplies, with some analysts predicting wholesale barrel prices could increase by 50 per cent.

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