According to British Independent.

Big oil exporters are making a conspiracy to replace the dollar with euro and the Japanese yen with the Chinese Yuan as currency for trading with the black gold, writes the British Independent.
The paper argues that Saudi Arabia and United Arab Emirates have secret meetings with Russia, Japan, China and France.
There are four currencies involved - the Chinese Yuan, the Brazilian Real, the Russian Ruble and the Indian Rupee. Though these countries could possibly create a common currency, similar to the Euro, this would be difficult to accomplish.