The petrodollar system, born out of a strategic alliance between the U.S. and Saudi Arabia in the 1970s, has long been the backbone of global oil trade. This arrangement, where oil is bought and sold exclusively in U.S. dollars, not only boosted the American economy but also secured its power on the global stage, giving the U.S. tremendous leverage. However, recent geopolitical shifts and the rise of new market players are challenging this once unshakeable system.

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