https://www.msn.com/en-us/money/markets/u-s-saudi-petrodollar-pact-ends-after-50-years/ar-BB1o29sn
The 50-year-old petrodollar agreement between the U.S. and Saudi Arabia was just allowed to expire. The term "petrodollar" refers to the U.S. dollar's role as the currency used for crude oil

https://markets.businessinsider.com/news/stocks/the-us-is-facing-a-major-challenge-as-petrodollar-loses-force-1032063614?op=1
The U.S. Is Facing A Major Challenge As Petrodollar Loses Force. Oil Price. Feb. 2, 2023, 04:00 AM. On January 17, the Saudi minister of finance, Mohammed Al-Jadaan, announced that the Saudi state

https://www.npr.org/2023/04/04/1167880953/oil-producers-will-cut-production-whats-that-mean-for-the-u-s-saudi-relationship
OPEC+, a group of oil-producing nations and their allies, voted to cut production last weekend. The laws of supply and demand apply here. If you cut the supply, you may push up prices depending on

https://www.washingtonpost.com/national-security/2023/06/08/saudi-arabia-cut-oil-production/
But in private, Crown Prince Mohammed bin Salman threatened to fundamentally alter the decades-old U.S.-Saudi relationship and impose significant economic costs on the United States if it

https://www.kpbs.org/news/news/environment/2023/04/03/5-things-to-know-about-saudi-arabias-stunning-decision-to-cut-oil-production
Brent prices, the global benchmark, jumped up around $5 to around $85 a barrel immediately on news of the cuts. Reducing oil production means less supply on the market, which obviously pushes

https://www.reuters.com/business/energy/oil-prices-jump-more-than-2bbl-after-saudi-pledges-cut-more-output-2023-06-04/
Goldman Sachs analysts said the output deal was "moderately bullish" for oil markets and could boost December 2023 Brent prices by between $1 and $6 a barrel depending on how long Saudi Arabia

https://www.nbcnews.com/news/world/saudis-cut-oil-production-500000-barrels-day-rcna77826
April 2, 2023, 11:32 AM PDT. By Associated Press. DUBAI, United Arab Emirates — Saudi Arabia said Sunday it will cut oil production by 500,000 barrels per day from May until the end of 2023, a

https://www.cnn.com/2022/10/07/business/saudi-araibia-us-opec-mime-intl/index.html
On Wednesday, OPEC+, the oil cartel led by Saudi Arabia and Russia, agreed to slash production by 2 million barrels per day, twice as much as analysts had predicted, in the biggest cut since the

https://www.syzgroup.com/sites/default/files/document/2022-09/focus-the_end_of_the_petrodollar.pdf
Saudi Arabia's infrastructure through technology transfers). In exchange, the United States provides a security guarantee to Saudi Arabia. The oil-for-dollars deal was later extended to other OPEC countries. THE ADVANTAGES OF PETRODOLLAR RECYCLING For the United States • The U.S. dollar acts as the world's reserve currency

https://www.nbcnews.com/news/world/saudi-arabia-says-biden-admin-asked-postpone-oil-supply-cut-month-rcna52037
Saudi Arabia has suggested the U.S. asked it to wait a month before it cut oil production, defending a move the White House has heavily criticized as helping Russia's war in Ukraine.. Such a delay

https://redstate.com/wardclark/2024/06/13/so-long-petrodollar-us-saudi-arabian-agreement-ends-after-fifty-years-n2175443
The petrodollar — a deal, not a currency — was born out of the late 1970s energy crisis. The United States, having just gone off the gold standard, struck a deal with Saudi Arabia — one of the largest producers of petroleum in the world — that meant the Saudis would price their oil exclusively in United States dollars and that any surplus revenues from their sales of petroleum would be

https://apnews.com/article/saudi-arabia-oil-production-cut-opec-2d6f724e899f31e92d4bdf052921125c
DUBAI, United Arab Emirates (AP) — Saudi Arabia and Russia agreed Tuesday to extend their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market and boosting energy prices. The dual announcements from Riyadh and Moscow pushed benchmark Brent crude above $90 a barrel in trading Tuesday afternoon, a price unseen in the market

https://historynewsnetwork.org/article/162993
The U.S. would buy oil from Saudi Arabia and provide the kingdom military aid and equipment. In return, the Saudis would plow billions of their petrodollar revenue back into Treasuries and finance

https://www.bbc.com/news/world-middle-east-58930311
15 March 2022. Getty Images. UK Prime Minister Boris Johnson has defended a trip to Saudi Arabia, saying "the widest coalition" is needed to end reliance on Russian oil and gas. But maintaining

https://www.npr.org/2023/04/03/1167824124/saudi-arabia-oil-production-cuts-gas-prices-energy-markets
5 things to know about Saudi Arabia's stunning decision to cut oil production. A person goes to the pump at a gas station in Arlington, Va., on July 29, 2022. Gas prices have come down

https://www.npr.org/2023/06/04/1180056198/saudi-arabia-oil-opec
Saudi Arabia will now produce 9 million barrels of crude oil per day, the country's Ministry of Energy said. That's 1.5 million fewer barrels per day than it was churning out earlier this year.

https://www.nytimes.com/2022/10/13/world/middleeast/us-saudi-oil-production.html
Oct. 13, 2022. Saudi Arabia and the United States traded rare public accusations on Thursday over the kingdom's decision last week along with other oil producers to cut output despite American

https://www.amnesty.org/en/latest/news/2022/03/saudi-arabia-mass-execution-of-81-men-shows-urgent-need-to-abolish-the-death-penalty/
The mass execution of 81 individuals, Saudi and non-Saudi citizens, on Saturday signals an appalling escalation in Saudi Arabia's use of the death penalty, Amnesty International said today, bringing the country's tally of executions to 92 so far in 2022 alone. The Ministry of Interior on Saturday announced the execution of 81 people, all of […]

https://www.bbc.com/news/business-65804768
Getty Images. Oil prices have risen after Saudi Arabia said it would make cuts of a million barrels per day (bpd) in July. Other members of Opec+, a group of oil-producing countries, also agreed

https://www.economist.com/middle-east-and-africa/2020/07/18/the-end-of-the-arab-worlds-oil-age-is-nigh
Oil revenues in the Middle East and north Africa, which produces more of the black stuff than any other region, fell from over $1trn in 2012 to $575bn in 2019, says the IMF. This year Arab

https://www.pbs.org/newshour/economy/saudi-arabia-other-opec-nations-announce-surprise-oil-production-cuts
DUBAI, United Arab Emirates (AP) — Saudi Arabia and other major oil producers on Sunday announced surprise cuts totaling 1.15 million barrels per day from May until the end of the year, a move

https://www.bakerinstitute.org/research/arab-embargo-50-years-ago-weaponized-oil-inflict-economic-trauma-sound-familiar
Fifty years ago, a secret deal among Arab governments triggered one of the most traumatic economic crises to afflict the United States and other big oil importers. Saudi King Faisal and other Arab leaders launched an oil embargo on Oct. 17, 1973, as payback for Washington siding with Israel in its war with neighboring Egypt and Syria.

https://theconversation.com/rising-oil-prices-surging-inflation-the-arab-embargo-50-years-ago-weaponized-oil-to-inflict-economic-trauma-214670
Fifty years ago, a secret deal among Arab governments triggered one of the most traumatic economic crises to afflict the United States and other big oil importers. Saudi King Faisal and other Arab