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. 7. The PDVSA has cited its president Manuel Quevedo, who also holds the position of Venezuela’s Minister of Oil and Mining, speaking about the future presentation: "We will be presenting Petro to OPEC in 2019 as the main digital currency backed by oil." According to the PDVSA, Quevedo also added that Petro will be offered as a unit of account for global crude oil trading, noting ... (full story)