Vijay Talks to the Texas Insider's Melissa Bill on the Potential Decline of the US Dollar
Saudi Joining BRICS: A Game-Changer for US Oil Industry
On June 9, 2024, a long-standing petrodollar deal between the United States and Saudi Arabia expired. As of now, Saudi
Melissa Bill
According to Vijay Marolia, Managing Partner and Chief Investment Officer of Regal Point Capital, rise of the new BRICS currency could be a tipping point for the US dollar.
“This is definitely bearish for the US dollar in the long term—the petro-dollar contract added a lot of demand for the dollar globally and this support will gradually decrease. Unfortunately for us, that means higher energy prices,” said Marolia.
On the national front, Marolia felt this year’s elections will play a part in the industry’s projections.
“Nationally, all bets are off until we see who wins the election, but I do think that US production will continue to grow, especially when we see oil prices rally.”
