Of the top 10 oil producing countries (https://www.eia.gov/tools/faqs/faq.php?id=709&t=6 ) most are now a part of or will soon be a part of BRICS - China, Saudi Arabia, Russia, UAE, Brazil, Iran . Most people are focused on them coming up with their own currency, To me this is just as much a blow to the petrodollar because although they may not control what is used for the purchase of the product yet, they control the PRODUCT itself!
OPEC Raises The Ceiling
Forgive me , but I’m not sure what this all means. Sounds like market forces working like they’re supposed to ?
Of the top 10 oil producing countries (https://www.eia.gov/tools/faqs/faq.php?id=709&t=6 ) most are now a part of or will soon be a part of BRICS - China, Saudi Arabia, Russia, UAE, Brazil, Iran . Most people are focused on them coming up with their own currency, To me this is just as much a blow to the petrodollar because although they may not control what is used for the purchase of the product yet, they control the PRODUCT itself!