A notional unit of currency earned by a country from the export of petroleum.
石油美元
petrodollars were pouring into the kingdom
石油美元大量流入该王国。
Example sentencesExamples
With oil prices hovering above $50 a barrel, Russia, the world's second-largest producer of crude after Saudi Arabia, is raking in petrodollars.
Nevertheless, in a Nov. 22 report Fitch noted that Mexico has used its oil bounty less productively than Russia, which is running a fiscal surplus even as it spends many of its petrodollars to pay down the country's debt.
As well as pushing up the value of the currency directly, a flood of petrodollars may also undermine manufacturing competitiveness by stoking inflation.
Oil and gas account for 55% of Russia's exports - and with oil prices around $50 a barrel, the country is raking in petrodollars as never before.
The Saudis have hitherto sold oil and bought expensive weapons systems from the Pentagon, as well as recycling surplus petrodollars without question back into US treasuries.
Definition of petrodollar in US English:
petrodollar
nounˈpetrōˌdälərˈpɛtroʊˌdɑlər
A notional unit of currency earned by a country from the export of petroleum.
石油美元
petrodollars were pouring into the kingdom
石油美元大量流入该王国。
Example sentencesExamples
With oil prices hovering above $50 a barrel, Russia, the world's second-largest producer of crude after Saudi Arabia, is raking in petrodollars.
Nevertheless, in a Nov. 22 report Fitch noted that Mexico has used its oil bounty less productively than Russia, which is running a fiscal surplus even as it spends many of its petrodollars to pay down the country's debt.
Oil and gas account for 55% of Russia's exports - and with oil prices around $50 a barrel, the country is raking in petrodollars as never before.
As well as pushing up the value of the currency directly, a flood of petrodollars may also undermine manufacturing competitiveness by stoking inflation.
The Saudis have hitherto sold oil and bought expensive weapons systems from the Pentagon, as well as recycling surplus petrodollars without question back into US treasuries.