I also dont think it will happen however I dont think opec will continue to accept a depreciating currency unless they get more of the USD for their product. Hence I believe you will see opec raising the base price before switching currencies. I do see the day when commodities will be priced in a basket of currencies but when?
Another point to consider is whether the yanks will allow countries to buy at cheaper prices with their strengthening currencies. Gold/silver/ oil/natgas gets cheaper everyday in yen and euro which exacerbates an already tight supply in these products. I'm sure you'll agree this one of the major reasons for the latest run in prices. Problem is this doesn't help the US's economic recovery with inflation rearing its ugly head
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- *opec considers ditching the dollar*
*opec considers ditching the dollar* , page-7
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