Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
Moldova Criticizes Russia Amid Transdniestria Energy Crisis 
China's Refining Industry Faces Major Shakeup Amid Challenges 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Stock Futures Dip as Investors Await Key Payrolls Data 
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
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.
Venezuelan president, Nikolas Maduro had already clarified about their plans of cryptocurrency, in the recent months, that the government would back each petro with an actual barrel of Venezuelan oil in order to allure credible investors.
Umpteen number of Venezuelans and government officials purchased the petro cryptocurrency since its inception in October. They needed to abide by KYC norms which included bio-metrics before they are issued a petro certificate of purchase.
They now announced petro can be exchanged into any cryptocurrency if purchased this year. Nevertheless, the wallet is yet to be made ready available for the petro but the buyers are entitled for certificates of purchase.
Currency Strength Index: FxWirePro's hourly BTC spot index is showing -70 (which is bearish), while USD is flashing at 131 (which is bullish), while articulating at (08:30 GMT). For more details on the index, please refer below weblink:
