June 9th marks the end of the petrodollar

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It's more symbolic than anything.

First, the Saudis will keep taking USD, and most people will keep paying in USD, because the USD remains the preferred denominator and will remain so. They will simply take other currencies now -- if and whenever they want. As it happens now with the touted BRICS "dedollarization", what really happens when they transact say in RMB, is that they agree on a USD price, then convert currencies using USD as the bridge directly or indirectly, and say they paid in RMB. Whatever.

Second, the yearly volume of the USD-denominated oil trade is $3-4 T. Compare that to the total amount of offshore USD (dollar-denominated debt and so on, outside of the US) in the world's economies, which is probably $15-20 T. Obviously 4 trillion vs 15 is sizeable, but it's not like the 4 T are going to zero.

The petro dollar effectively died in 2019 when oil went negative at West Texas. (WTI)