Here is a prediction, OPEC looks for a Non-US Dollar Currency. This is getting interesting.
“RIYADH, Nov 18 (Reuters) – OPEC states agreed their finance ministers would meet before Dec. 5 to discuss the sliding dollar’s impact on their economies after Iran and Venezuela recommended pricing oil against a currency basket.”
“Pricing oil against a currency basket was “not specifically on the agenda” of the finance minister’s meeting, he said.
Ecuador, which rejoined the cartel at the Riyadh summit after 15 years, backed Venezuela’s and Iran’s push to have their concerns about the dollar included in the summit communique, Jabor said.
“Other member states discreetly share the same concern,” he said declining to elaborate or say what Iraq’s position was.”
