If the world's currency of reserve is the euro rather than the dollar, that makes a big difference to the originators of the dollar.
You really think the world is going to depend on a currency that's controlled by the Germans and the French? Good luck with that. LOL!
You are correct, but don't confuse "reserve currency" with what a commodity is denominated in. A reserve currency is the currency in which central banks settle transactions with other central banks and in which they hold their excess reserves. That is a wholly different concept from private transactions between buyers and sellers of oil.
Now, should the central banks decide that they no longer wish to hold excess reserves in dollars (Treasury bonds and notes), then there is a demand shift for dollars. You have unleashed a large stock of dollars onto the market. For a lot of reasons, that is unlikely to happen; the foreign central banks would be cutting their noses off to spite their faces if they were to dump dollars. At the most basic level, a dollar collapse kills the US economy (can't afford those cheap chinese things anymore), so then where are they?
But that's got nothing to do with how a commodity is priced. As I said in my earlier post, the decreased buying pressure on the dollar is offset by the decreased selling pressure on the dollar. it's a wash.
This misleading article was authored by someone who either doesn't understand capital flows or intends to mislead.