Stephen Clayson

Stories by Stephen Clayson

The end of oil pricing in dollar

The end of oil pricing in dollar

Rediff.com   26 Nov 2007

As it is, a great deal of oil is produced in countries with little to underpin their economies besides oil, so pricing the black stuff in an international currency makes sense, especially when that currency is that of the primary buyer of the oil concerned. It makes things simple for the buyer and lets the seller take its revenue in a major currency.