Oil is an oil surplus fund accumulated from the balance of payments surpluses of major oil exporting countries since 1973, when oil prices rose sharply.
Since the dollar accounts for the largest proportion, it is called petrodollars.
Petrodollars are essentially international short-term funds that may move internationally widely and rapidly.
This move will seriously affect the stability of the international financial market.
As a result, the petrodollar is being closely watched around the world.
In the early stage, the return of petrodollars mainly flowed to Europe, New York financial market, national financial institutions and international financial institutions, and its inflow regions were mainly Western Europe, the United Kingdom, the United States and other countries.
Developing countries also want to use petrodollars to grow their economies.
