-->Reuters
Brussels, May 26

World oil trade should be switched to a basket of currencies, including the euro, rather than be priced in dollars only, the European Commission said on Wednesday.

"If the oil price should be related to a value it should be a consequence of a basket of currencies involving the main oil consumption (nations)," Energy Commissioner Loyola de Palacio told reporters after a news conference.

"This should give the real picture of the impact of the oil prices."
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