I sounds good but still need to be proven. There is a lot of conspiracy going on with the US and Saudi Arabia regarding its petroleum import/export. To think that the Dollar is backed by oil I won't believe it.
the dollar is not supported by one trade product, but the dollar is used to buy and sell all products around the world, that makes the dollar very strong. if world trade does not use dollars but uses crypto, the dollar will certainly be destroyed and the value will not be high anymore.