Cryptocurrency Q&A
Could Saudi Arabia use cryptocurrencies to price oil?
Could Saudi Arabia use cryptocurrencies to price oil?
Lorenzo
Fri Nov 15 2024
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6
answers
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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.
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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.
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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.
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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.
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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.
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