ISSUES....
Inside, confidential, off the record

 

Not yet

In the forex market, there has been rampant speculation of late that OPEC might move to drop the pricing of oil in dollars and turn to some other methodology... perhaps a basket of currencies. That was " put to bed" yesterday, at least for now, when Qatar's Oil Minister, Mr. al-Attiyah said that the cartel is not considering changing its method of pricing crude Mr. al-Attiyah said that abandoning the dollar “isn't yet on [OPEC's] agenda" because making such a change “ need[s] the co-operation of Opec and non-Opec” states combined. As is always the case, when Mr. al-Attiyah speaks, we've learned to pay heed; however, what caught our eye was the single word "yet." It "is not yet" on OPEC's agenda. This leads us to believe that it soon shall be.

Commentary from Dennis Garthman /10 31 07

For more on interesting comments, you can subscribe to The Gartman Letter by contacting Dennis Garthman: Phone 757 238 9346, Fax 757 238 9346 or dennis@thegartmanletter.com

 

Petroleumworld 11 01 07

ISSUES.... Is an independent journalist effort from Petroleumworld, on Inside, Confidential
and Off The Record Information, its views are not necessarily those of Petroleumworld

Legal information: Copyright/Disclaimer

Copyright ©Petroleumworld, 1999-2007. All rights reserved

 

Send this story to a friend

Your feedback is important to us!

We invite all our readers to share with us
their views and comments about this article.

Write to editor@petroleumworld.com

Any question or suggestions, please write to:
editor@petroleumworld.com

3


Best Viewed with IE 5.01+
Windows NT 4.0, '95, '98 and ME +/ 800x600 pixels