I'm wondering if Saudi Arabia has the possibility to adopt cryptocurrencies as a means of pricing their oil. Could this become a reality in the
NEAR future?
6 answers
SsangyongSpiritedStrength
Sun Nov 17 2024
Saudi Arabia is contemplating the pricing of oil in various currencies beyond the traditional dollar.
Daniele
Sun Nov 17 2024
One option being considered is pricing oil in currencies like the euro, which could diversify the nation's economic ties.
BonsaiLife
Sun Nov 17 2024
Another potential currency for pricing oil is the yuan, reflecting China's growing economic influence and trade relations with Saudi Arabia.
SumoMighty
Sat Nov 16 2024
The possibility of using a basket of multiple currencies for oil pricing is also under discussion, aiming to mitigate risks associated with single currency dependence.
Andrea
Sat Nov 16 2024
An intriguing prospect is the use of digital currencies or cryptocurrencies for oil trades, signaling a move towards modernizing the oil market.