As oil proves resilient around 2014 highs, experts warn that a sustained uptick in energy prices could upset market sentiment in Asia.
Higher oil prices combined with rising U.S. interest rates could prove "a double whammy," for the region, "adding about a trillion dollars a year to the import bill across Asia," Richard Martin of advisory firm IMA Asia told CNBC on Friday.
That hefty tab is set to grow this year beyond the $1 trillion mark, according to analysis from Thomson Reuters, which shows that the Asia-Pacific region already consumes more than 35 percent of the 100 million barrels of oil the world uses each day.
At the same time, that same Asia-Pacific region, as defined by Thomson Reuters, is the world's smallest oil-producing area, accounting for less than 10 percent of output.
If oil leads to a quicker than expected uptick in inflation, that could build pressure on central banks to take a more aggressive stance on interest rates than the market anticipates.