OAPEC

OAPEC Bulletin Questions Role of Dollar in Oil Pricing

The recent slide in the value of the dollar again raises the question of whether oil should be priced in dollars, according to the November issue of the OAPECBulletin.

In an editorial entitled "Oil Prices: Why not a Basket of Currencies?", the bulletin recalls that for a period in the early seventies the OPEC countries adjusted the dollar price of their oil exports according to the average value of nine major...