The United Arab Emirates’ energy minister said on Monday that the use of the U.S. dollar as the main oil trading currency could not be changed overnight. “Trading with the U.S. dollar is something you don’t change overnight … Let’s not jump into some of those ideas,” Suhail bin Mohammed al-Mazroui said when asked about the possibility that OPEC members may move away from trading oil in dollars. Saudi Arabia is threatening to sell its oil in currencies other than the dollar if Washington passes a bill exposing OPEC members to U.S. antitrust lawsuits, three sources familiar with Saudi energy policy told Reuters last week. “OPEC did not say that, OPEC did not claim that they will change the currency in the trading and I have no views on the doability of that,” Mazroui said at an energy conference in Dubai. He added that compliance with […]