The petrodollar system has long been a cornerstone of global finance, underpinning the US dollar’s dominance for decades. But as energy markets shift, and talk of de-dollarisation grows louder, is this system now fading? And what could that mean for the future global order?

In this episode of The View Beyond, Jan Bopp is joined by Julius Baer’s currency strategist, David Meier, and Norbert Rücker, Head of Macro and Next Generation Research, to explore the origins and evolution of the petrodollar system, the impact of the US shale oil revolution, and the practical realities of de-dollarisation. The discussion covers the shifting correlation between oil prices and the US dollar, the significance of Saudi Arabia’s move to accept multiple currencies, and why the US dollar’s dominance remains largely unchallenged despite headlines. The episode also examines the scale of non-dollar oil trade, the role of sanctions, and the structural factors underpinning reserve currency status.

• (00:00) - Introduction