According to a Reuters report from Rome, the Italian Oil Industry Alliance (UP) said here on February 17 that due to rising crude oil prices, Italy, which is heavily dependent on energy imports, expects the cost of oil imports this year will increase 38.5% over the previous year.
Italy UP said in a statement that Italy’s oil import costs this year are expected to increase from last year's 27 billion euros to 31.3 billion euros (42.49 billion US dollars) and 37.4 billion euros.
This estimate is based on the expected average oil price of $90 to $100 per barrel and the current exchange rate.
UP said that Italy's total energy costs this year will increase from 51.7 billion euros last year to a record 60.4 billion euros.
Italy UP said in a statement that Italy’s oil import costs this year are expected to increase from last year's 27 billion euros to 31.3 billion euros (42.49 billion US dollars) and 37.4 billion euros.
This estimate is based on the expected average oil price of $90 to $100 per barrel and the current exchange rate.
UP said that Italy's total energy costs this year will increase from 51.7 billion euros last year to a record 60.4 billion euros.
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