Pacific · AUS
Australia
A quarry with a rooftop-solar fleet. Export coal and LNG pay the current account; the NEM is retiring coal in public.
Oil production
0.4 mb/d
1.1 mb/d demand
Net oil
-0.7 mb/d
Export surplus
Gas production
160 bcm
Net +112 bcm
O&G rent
2.2%
Share of GDP
Oil balance
Production versus demand, 2025, million barrels per day.
Gas balance
Production versus demand, 2025, billion cubic metres.
Proven oil
2 bn bbl
Gas reserves
2.4 tcm
Refining
0.5 mb/d
LNG
81 bcm export
Hydrocarbon mix
Oil versus gas in this country’s oil-and-gas demand (oil-equivalent).
- Oil39%
- Gas61%
Inflows and outflows
What leaves. What arrives.
Australia outflows 0 kb/d crude, 75 bcm LNG. Inflows 0 kb/d crude, 0 bcm LNG.
Local crude
Priced off the waterborne tape.
No local futures contract on this board. Brent, Dubai and WTI still set the netback. Open the flows desk for the markers that moved when Maduro was ousted and when the Iran war started.
Crude flowsMapped crude
Barrels per day.
This economy is not on the mapped seaborne board. The corridors that rewired in 2026 are on Flows.
LNG out
- China34 bcm+6 bcm
- Japan26 bcm+4 bcm
- South Korea15 bcm+3 bcm
LNG in
None mapped.
Economy
State royalties track Newcastle and JKM. A Chinese steel slump is a budget event. Domestic gas reservation fights with LNG netbacks every winter.
- GDP
- $1.8 tn
- Population
- 27.0 m
- Oil intensity
- 0.2 bbl /$1k
- Oil & gas rent
- 2.2% GDP
- Hydrocarbon trade
- -6.4% GDP
- Fiscal breakeven
- —
- $30 oil shock
- -4.1 pp GDP
- Club
- Independent
Projected oil demand
Regional IEA WEO 2025 oil pathways applied to this country’s 2025 baseline. STEPS 2035 demand 1.0 mb/d (net -0.7) versus NZE 0.6 mb/d (net -0.4).
| Scenario | 2025 | 2030 | 2035 | 2050 |
|---|---|---|---|---|
| Stated Policies | 1.1 | 1.1 | 1.0 | 0.8 |
| Net Zero 2050 | 1.1 | 0.9 | 0.6 | 0.2 |
| Current Policies | 1.1 | 1.1 | 1.0 | 0.9 |