U.S. Plans to Raise Oil Import From Saudi by 20% in 2012

New York Times reported that according to the Energy Department, U.S. has planned to raise oil import from Saudi by 20 percent in 2012 and has already imported 1.45 million barrels of oil from Saudi Arabia in the first five months of 2012.

As quoted in the market news:

The United States imported a daily average of more than 1.45 million barrels of Saudi crude over the first five months of this year, compared to a daily average of roughly 1.15 million barrels over the same period last year, according to Energy Department estimates.

Click here to read the full Reuters report.