Petrodollar Politics

In the last week social media blew up with news regarding the unwritten petrodollar deal between the US and Saudi Arabia, which has been the bedrock of the dollar's dominance, coming to an end. The demise of the dollar has been a regular feature of discussion in geopolitics in the last decade. On the one hand we have China and Russia calling for alternatives and on the other hand you have US commentators questioning the dollar's continued dominance. What does this mean for the US as a global power?  Will this be the end of the American Empire?