Australia's Minister for Climate Change and Energy, Chris Bowen, announced today (March 13) that up to 762 million liters of gasoline and diesel will be released from domestic reserves to alleviate pressure on fuel supply chains. The day before, the Australian government announced that it would temporarily adjust the country's fuel quality standards over the next 60 days, allowing gasoline with higher sulfur content to enter the market to increase domestic fuel supply. On March 11, the 32 member countries of the International Energy Agency, including Australia, unanimously agreed to release 400 million barrels of strategic oil reserves to address the global oil supply tightness caused by U.S. and Israeli military strikes on Iran. (CCTV International News)