At the OPEC summit, there was some sharp political division over the demise and value of the US dollar on Global Markets and the eroding the purchasing power of OPEC members.

The final statement issued in Riyadh did not include any reference to the dollar's predicament in an apparent victory for US-allied moderates led by Saudi Arabia.

However, Iran and Venezuela made it clear before and after the summit that they would press for action in this regard.

Such a move would be a political blow to the US, whose currency as Iran's President Mahmoud Ahmadinejad told reporters that it would become a "worthless piece of paper."

Iraqi Finance Minister Bayan Jaber stated after the close , and backed by Ecuador, that the anti-US powers were in agreement that Finance Ministers would discuss the issue before a scheduled Ministers meeting in Abu Dhabi on December 5th.

Saudi leader King Abdullah also remarked, " Oil is an energy that is about construction and development and should not be turned into a tool of dispute and wimsey."

Ecuador's President Rafael Correa told reporters the world's richest nations should pay for protecting the environment in the world's poorest counties.

"It annoys us a bit, all this moralising ' don't cut down your trees' from the first world, when, they've already done that, " he said.

" If Europe wants to breathe pure air from Amazon countries then Amazon countries shouldn't have to pay for it."