Petrodollars

What does it Mean? The money that oil exporters receive from selling oil and then deposit into Western banks. Petrodollars are also known as petrocurrency.
 
Investopedia Says... Petrodollars refers to the money that Middle Eastern countries and members of OPEC receive as revenue from Western nations and then put back into those same nations' banks. For example if Libya were to receive money from the U.S. for oil and then put the money into a U.S. bank, that deposited money is referred to as petrodollars.


Terms Related Links

Cartel
Commodity
OPEC Basket
Organization of Petroleum Exporting Countries - OPEC
Sour Crude
Sovereign Wealth Fund - SWF
Sweet Crude

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