Petrodollars

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Petrodollars

Deposits by countries that receive dollar revenues from the sale of petroleum to other countries; the term commonly refers to OPEC deposits of dollars in the Eurocurrency market.

Petrodollars

Revenue that state-owned and state-influenced oil companies derive from the sale of oil. In several Middle Eastern countries, petrodollars are the predominant source of government revenue. They are available for investment and are often traded on the eurocurrency market and/or are used for development purposes. For example, Bahrain used petrodollars in the 1970s and 1980s to finance improvements in its industrial capacity. See also: OPEC, Sovereign Wealth Fund.

petrodollars

The funds that are controlled by oil-exporting countries and have been used to pay for oil imports. Petrodollars are a huge pool of funds available for investment and the purchase of goods and services. Although stated in terms of dollars, the term generally refers to all currencies.
References in periodicals archive ?
The loonie is a classic petrocurrency. The ideal FX trade if the Syria military crisis escalates?
Sterling hit a high of $1.95 as investors searched for a non-Arabian petrocurrency and Britain, being an exporter of oil, made it a good choice.
The rise since the [TABULAR DATA OMITTED] 1997 election is of similar magnitude to that which occurred in the first three months of Mrs Thatcher's government but this time it has happened without the support of oil price increases and 'petrocurrency' status.
In 2014, oil prices crashed, ending the Gulf petrocurrency bonanza.
The US trades five times more with Colombia than Russia and Bogota is now a petrocurrency power and as the FARC rebels are doomed.
Sterling hit a high of $1.95 as investors searched for a non- Arabian petrocurrency and Britain, being an exporter of oil, made it a good choice.
Even though the Saudi-Russian output cut led to a 50 per cent rise in the price of crude oil since last summer's Brent $42.45 levels, the stock market has not rerated shale oil exploration/production firms, Big Oil integrated supermajors or even "petrocurrency" emerging markets.
I trust the loonie as a hard money savings options for Gulf investors, especially all my horde of banker friends in UAE who sing "O Canada" and are the new petrocurrency snowbirds of the Gulf!
Saudi Arabia also brokered the 1.8mbd output cut pact with Russia and the Opec that has ended the oil glut, engineered a rise in Brent crude from $45 last summer to $71 now and set the stage for a new petrocurrency tsunami to ease its budget deficit.
Eight, the slower economic growth in Saudi Arabia, the Qatar embargo and the plunge in petrocurrency revenues in Kuwait and Oman have led to a fall in GCC tourists and home buyers.