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Australia's oil dries up

AUSTRALIAN oil production last year plunged to its lowest level in 42 years, according to data fr...

Australia's oil dries up

Oil production dropped from 95.8 million barrels in 2011 to 88.3MMbbls in 2012, a decrease of 7.5MMbbls, or 8%. The decline over the past year is equivalent to a drop in the average daily production...

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