petrodollar

noun

pet·​ro·​dol·​lar ˈpe-trō-ˌdä-lər How to pronounce petrodollar (audio)
: a dollar's worth of foreign exchange obtained by a petroleum-exporting country through sales abroad
usually used in plural

Examples of petrodollar in a Sentence

Recent Examples on the Web Moreover, as a region, Kirkuk would enjoy its constitutional share of revenue as well the petrodollars. Luay Al Khatteeb, Foreign Affairs, 18 Jan. 2016 The flow of petrodollars enhanced the international status of the dollar while reducing its value in foreign exchange markets. Jeff Sommer, New York Times, 22 Sep. 2023 Wagner units protected Syria’s oil fields and, as compensation, received a slice of Syria’s petrodollars, according to Western officials. Brian Murphy, Washington Post, 26 Aug. 2023 Gas guzzling SUVs and pickup trucks would have been replaced long ago by electric vehicles and Middle East royalty wouldn’t be rolling in our petrodollars. Kathleen Gallagher, Journal Sentinel, 17 Aug. 2023 For now, though diminished, the petrodollar remains the dominant currency for trades in oil and petroleum products. David Blackmon, Forbes, 2 Apr. 2023 Such divisions and pressures to trade outside the petrodollar seem likely to only continue to increase as Russia’s war lingers on without resolution. David Blackmon, Forbes, 2 Apr. 2023 And those interests are to bring in as many petrodollars as possible for the kingdom not to fall into a budget deficit or see its megaprojects fail. Nic Robertson, CNN, 12 June 2023 Among those agreements is the petrodollar, which has been in place for over 50 years. Frank Holmes, Forbes, 27 Mar. 2023

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'petrodollar.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

Etymology

petro- + dollar

First Known Use

1973, in the meaning defined above

Time Traveler
The first known use of petrodollar was in 1973

Dictionary Entries Near petrodollar

Cite this Entry

“Petrodollar.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/petrodollar. Accessed 26 May. 2024.

Last Updated: - Updated example sentences
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