This story is nonsense.
No news agencies are reporting on this and I can't find another source for what would be one of the most consequential stories in the world if it were true
this post was submitted on 14 Jun 2024
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This says nothing about Saudi Arabia deliberately ending the deal or wanting to opt-out, as OP's article implies. At best, they're saying the deal reached some natural expiration date. There have been no public comments either way to suggest that the deal has expired, anything out of the ordinary has happened or that it will not be renewed if this is the case.
More importantly, this is an opinion piece on the stock tip section of a website that is notably not a news agency. If this were true, it would represent a massive Geo-political shift and would have been widely reported by now.
i've seen mention of it around but the reality is that there's no big changes expected simply because there's no alternative currency that multinationals accept on this scale that is anywhere stable enough to use. if some trillion dollar stablecoin was hackproof eventually it could happen. but saudi isn't hungry for chinese or russian or eu etc currency at all.
First of all, the Saudi Arabia-US petrodollar deal was signed in 1974. 2024-1974 < 80. I'm locking this post.
That sounds like some big news. I've heard in the past rumors and such that the USA leaders have mostly kept "warm" relations with the Saudis in the effort to keep them using the Petrodollar as their standard.
nice. competition is always good.