The Importance of Oil in the Global Economy

The significance of the oil trade to the dollar's status as dominant currency is worth watching. Oil dollars are used in multivarius transactions across different sectors, spending on oil industries and global finance. It serves a much more important, much more diverse role than it did 40 years ago. The Saudis and the Chinese de-dollarizing their oil exchanges or de-dollarized their energy deals could be indicative of global economic trends. But I don't think it's a serious threat to the dollar"