2024-06-27 | Market Dive
Petrodollar Deal Expired: Will the Dollar Lose its Grip?
<p>Recently, the term “petrodollar” has frequently surfaced in economic discussions and news headlines, sparking considerable controversy over its outlook. This surge in interest comes amidst emerging rumors that suggests Saudi Arabia may end its 50-year Petrodollar agreement with the U.S. to price oil exclusively in U.S. dollars. <br /> Currently, there are sources left and right claiming that this deal is fake news or true news. The main argument is on an agreement between Saudi and U.S. signed in June of 1974. We will be covering what exactly is the petrodollar and continue to talk about the two sides of the story, then bring out the outlook of the petrodollar matter.</p>