I am a retired executive from Saudi Aramco. Last night a Saudi friend of mine indicated that the King signed an agreement with the Chinese to sell oil in Yuan instead of USD. Additionally, Saudi will remove the fixed peg to the USD. This is the beginning of the end of the Petrodollar.
I am a retired executive from Saudi Aramco. Last night a Saudi friend of mine indicated that the King signed an agreement with the Chinese to sell oil in Yuan instead of USD. Additionally, Saudi will remove the fixed peg to the USD. This is the beginning of the end of the Petrodollar.
I didn't see another email about this, did I miss it? It is up over 4% this morning.