| 28.03.2012 - World oil import bill heading for record 1.25 trillion pounds |
| Oil consumer nations are set to pay a record $2 trillion (1.25 trillion pounds) this year for oil imports if crude prices do not fall, the International Energy Agency (IEA) said on Tuesday, undermining economic recovery. Crude hit $128 a barrel this month, only $20 short of its 2008 peak, and is up more than 15 percent since January, largely because of sanctions against oil producer Iran...............................................Full Article: Source |