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opec-dollar


OPEC looking at how weak dollar affects the cartel's profits

Well, this bit of news will probably leave some people feeling shaken, not stirred. OPEC has announced that the group has set up a committee to look into how the weak U.S. dollar is affecting the cartel's earnings and to figure out if trading oil using a "currency basket" (a concept I just learned about) would be beneficial to OPEC. The committee will report on whether using the average value of a group of currencies (the basket) would be better than trading oil using dollars; details on which currencies might make it into the basket and when ... Read more →

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