OPEC to study currency basket for pricing:Venezuela

October 30, 2007

CARACAS (Reuters) — OPEC is likely to discuss creating a basket of currencies for oil pricing at its next summit due to the steady decline in the dollar, Venezuela’s Energy Minister Rafael Ramirez said on Friday.

“The need to establish a basket of currencies … will probably be a point of discussion in the next OPEC summit,” Ramirez told reporters during an evening event in the presidential palace. Full Report