Did Saudi Arabia Actually Back Out of a 50-Year-Old Petrodollar Deal with the United States?

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There have been several stories of unknown origin floating around the internet for the last almost two months about Saudi Arabia backing out of a 50-year-old oil trade deal with the United States. Most places I looked for more details on this story say that it’s fake news because there was never any deal in place to begin with. But it’s a historical fact with articles and videos and such, that Richard Nixon and Henry Kissinger, did meet with the leaders of Saudi Arabia in 1974, there was an agreement signed, and some sources go as far as to say there were two agreements cemented, a formal and informal one.

I’m not saying the people and platforms saying there is no there, there, in regards to this story are psy-ops, and it’s unsettling for me to not be able to find a definitive primary source of reporting on this. But additionally, I’m also not sold by the posts that this is completely fabricated when we know something is or was in place objectively speaking, and de-dollarization isn’t slowing down. The potential implications of this being true if it is, denotes the United States becoming weaker on the world stage.