RE: The Petrodollar Myth by tanzil2024

hive-167922 · @tanzil2024 · Jan 20 '23

RE: The Petrodollar Myth

Thanks for sharing the nice article. Actually, the oil sector is one of the biggest trading parts of the world economy and the USA is the largest oil producer, so there is no way of removing of USD from the oil business! 

And for others, huge USD is dominating the international market and even trillions are stored as a foreign reserve by other countries thus ignoring or pulling down the USD is nothing but a daydream. But it is also true that many countries are motivated to pay a part of their mutual trade in their own currency which saves a lot of their USD reserve and costs!

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