For the first time ever, the digital yuan has been employed in an oil trade. This isn't a mere anomaly; it's the realization of a proposal made by the Chinese President last December. He had visualized Gulf countries leveraging the Shanghai Petroleum and Natural Gas Exchange for their vast energy exchanges. Just to gauge the magnitude: in 2022 alone, these Gulf nations dominated with 32% of the global crude oil production. Their reservoirs? They house a staggering 49% of the world's proven crude oil reserves as of 2021