Murray Olds: Australia Correspondent on the oil refinery fire, the IMF report, defence spending

A major fire at one of Australia's two remaining oil refineries isn't expected to have much effect on national prices.   The fire at Viva Energy's Geelong facility will hinder its ability to make petrol, but it can still produce diesel and jet fuel.  It's one of only two sites in Australia and produces 10% of the country's fuel.  Australia Correspondent Murray Olds told Mike Hosking the fire underlines the perilous nature of the country’s fuel supplies, as they have very limited refining capacity.   LISTEN ABOVE See omnystudio.com/listener for privacy information.