1) oil sales are denominated in US dollars 2) most countries import oil 1 + 2 = ??? Answer: most countries need dollars, because they need to import oil. If

1) oil sales are denominated in US dollars 2) most countries import oil 1 + 2 = ??? Answer: most countries need dollars, because they need to import oil. If oil was not sold in dollars, the demand for dollars would be much lower. Therefore, the US needs to control oil producers. If one producer gets out of line and decides to sell oil in another currency, the US will attack them.