which of the following hard currencies is usually used in the pricing of oil at the world market particularly by the Organization of Petroleum Exporting Cou...

which of the following hard currencies is usually used in the pricing of oil at the world market particularly by the Organization of Petroleum Exporting Countries (OPEC)? The

Answer Details

The hard currency usually used in the pricing of oil at the world market, particularly by the Organization of Petroleum Exporting Countries (OPEC), is the US dollar. This is because the US dollar is widely accepted and used as an international currency for trade and transactions. Since oil is one of the most traded commodities in the world, it makes sense for OPEC to use the US dollar as the standard currency for pricing and trading oil.