Tag: Opec

The Venezuelan government is reportedly going to present its oil-backed cryptocurrency, the Petro, to the Organization of Petroleum Exporting Countries (OPEC) as a unit of account for oil. According to local news outlet Telesur, the country’s petroleum minister and the president of state-run oil and natural gas company PDVSA, Manuel Quevedo, stated that Petro transactions The post Venezuela to Present Petro Crypto to OPEC as a Unit of Oil appeared first on CCN .
Manuel Quevedo, Venezuela’s minister of petroleum and the president of the nation’s oil company PDVSA, announced that the national cryptocurrency, the Petro, would be presented to the Organization of the Petroleum Exporting Countries (OPEC) as “the main digital currency backed by oil. ” Quevedo also claimed: "Petro will become the digital currency of oil transactions worldwide; we will present it to OPEC, it is one of the internationalization measures of the currency.
Petro is the state-backed currency of Venezuela, but they want to expand its use to be applied to oil as well. They are planning to present their option as a “digital currency of oil” at the Organization of the Petroleum Exporting Countries (OPEC) next year, according to a twitter post from PDVSA.
Allegations that Venezuela’s Petro cryptocurrency is all hot air hasn’t stopped President Nicolas Maduro from announcing a special exchange period for the Petro, and that he’ll be presenting it to the Organization of the Petroleum Exporting Countries (OPEC) next year as a unit of account for Venezuelan oil. RT @PresidencialVen: #NOTICIA NEWS: Everyone who saves […] The post Maduro Says Petro Purchasers Can Exchange It For Any Crypto, Plans to Take Petro to OPEC in 2019 appeared first on CryptoSlate.
The head of Venezuela’s state oil company reveals that the country will present Petro at the next OPEC meeting, offering the coin as a unit of account. Venezuela will present its state-backed cryptocurrency Petro as a unit of account for crude oil trading to the Organization of the Petroleum Exporting Countries (OPEC) in 2019, the country’s oil company PDVSA reports on its Twitter Nov.
The saturation on oil market could lead to a revision of the OPEC supplies. The biggest risk for oil traders after the introduction of imminent sanctions against Iran lies in the fact that no one knows how much the oil exports from the Arab state will decrease.
Oil prices declined sharply Monday amid reports that Saudi Arabia is heeding to President Trump’s request to keep the energy market well supplied. OPEC’s kingpin is stepping up its contractual obligations to key Asian markets amid disruptions from Venezuela and Libya, among others.
Sam Bourgihacked ·  
The Iranian Islamic Republic has the world’s fourth-largest crude oil reserves, with around 10% of the global stockpiles and around 13% of the OPEC reserves. Their holdings are estimated at around 157bn barrels.
Technology stocks propelled the Nasdaq Composite Index to record highs on Wednesday, as investors eyed potentially improving trade relations between the United States and European Union. Technology Stocks Rally The technology sector outperformed Wednesday as shares of Netflix (NFLX) and Facebook (FB) set fresh record highs.
Sam Bourgihacked ·  
Oil prices sold off Friday at their fastest pace in a year after major energy producers said they may soon begin lowering production limits. Energy Ministers Weigh Easing Output Caps A group of two-dozen producer nations are considering a gradual exit from an output deal put in place last year to rebalance an oversupplied crude […] The post Oil Prices Post Biggest Drop in a Year as Russia, OPEC Weigh Abandoning Output Deal appeared first on Hacked: Hacking Finance.
Sam Bourgihacked ·  
Oil Hits $80 A Barrel Oil hit its highest prices in nearly four years due to tight supply and tensions with Iran. Editor’s Remarks: Prices have recovered from as low as $30 a barrel in 2017, due largely to supply cuts agreed between OPEC and Russia, a strengthening world economy and political tensions across the globe.
Oil prices fell on Thursday 3rd May due to a rise in US crude inventories and production, as was reported by Reuters. Brent crude oil futures, the main benchmark, were at $73.
The Islamic Republic of Iran has notified fellow OPEC members that it does not support the relentless rise in crude prices, signaling a sharp split with regional foe Saudi Arabia, whose effort to re-balance the market has driven international crude past $75 a barrel. “Suitable Price” for Crude Iran believes that $60 to $65 a […] The post Iran Divides OPEC Once Again, Calls for $65 a Barrel Crude appeared first on Hacked: Hacking Finance.
Sam Bourgihacked ·  
https://medium. com/media/c52250450ae2af33ed647716f7d93778/hrefNicolas Maduro, President of Venezuela, will officially propose jointly develop a single mechanism for issuing cryptocurrencies secured by crude oil to OPEC members and other countries engaged in oil production.
The post Could OPEC Adopt a Cryptocurrency? Venezuela Lobbies for Oil-Backed ‘Petro’ appeared first on CCN The Petro, Maduro’s Venezuelan crypto endeavor, is a pre-mined oil-backed cryptocurrency. However, this isn’t enough for Maduro who now wants an OPEC-backed global cryptocurrency.
The post Could OPEC Adopt a Cryptocurrency? Venezuela Lobbies for Oil-Backed ‘Petro’ appeared first on CCN The Petro, Maduro’s Venezuelan crypto endeavor, is a pre-mined oil-backed cryptocurrency. However, this isn’t enough for Maduro who now wants an OPEC-backed global cryptocurrency.
Gareth Huntccn ·  
Venezuela’s president will ask OPEC members and oil producing non-members to back Petro, an ethereum token issued by Venezuela’s government. According to Venezuelan state radio, Nicolas Maduro, Venezuela’s controversial current.
Determined to bring cryptos to his country, Venezuela’s president is now courting OPEC nations. .
The US Government failed to reach any sort of deal to approve a budget last Friday. If there’s no budget there’s no money to pay government employees or to keep things open.