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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: mishedlo who wrote (7528)	2/10/2004 11:27:17 AM
From: Jim Willie CB	Read Replies (1) of 110194

Opec considers ditching the dollar Algiers- As the US dollar continues its slide against world currencies, should oil, the most valuable global commodity, now be priced in euros? The Organization of Petroleum Exporting Countries (Opec) is having a think about the relative merits of abandoning the greenback for the European single currency, and some analysts expect it to be discussed at the powerful oil cartel's special meeting in Algiers on Tuesday. "I would be surprised if the question was not examined" in Algiers, a source close to Opec said at the cartel's Vienna headquarters. Opec's current secretary general, the Venezuelan Alvaro Silva, recently indicated that the question was being mulled by the 11-member group, which has massive influence over global oil prices and production. "We are speaking about negotiating for crude in euros. It is possible that the organization will discuss this and take a decision at a given moment", Silva said. businessreport.co.za / jim

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