Cheaper Oil: Both Symptom and Balm | The Economist

www.economist.com/news/finance-and-economics/21625819-oil-price-tumbling-good-or-bad-news-world-economy-both?fsrc=scn/tw_ec/both_symptom_and_balm

Until a few years ago, all oil business among the nations was transacted with 'petrol-dollars' using the US Dollar exclusively.  More OPEC countries are opting to trade in other currencies such as the Chinese Yuan. 

China's Planned Crude Oil Futures May Be Priced In Yuan - SHFE | Reuters

China's planned crude oil futures may be priced in yuan - SHFE | Reuters

Opec petro-dollars have historically been the U. S. Dollar - that is, until now.  This represents what could be one of the most serious blows to the destabilizing of the U. S. Dollar and the end of its status as the global reserve currency.

Is The Petro Dollar On The Way Out?

Is the Age of the PetroDollar Over?
In 2003, the three of the Open Nations started using the Euro and Yuan in their international oil trading.  It signaled the first time that the 'almighty' dollar' was no longer the desired reserve currency - a shift, though subtle, had / has far-reaching implications concerning the global confidence in our currency and Nation.