The Middle East And Oil Production Essay

1199 Words Oct 6th, 2016 5 Pages
The Middle East and their oil production have been an important part of the world’s international business and economy. Oil is one of the most coveted natural resources and the Middle East has held this equity, along with some international power, since the early twentieth century. Oil was first discovered in Saudi Arabia on March 3, 1938; just six years after the territory became the Kingdom of Saudi Arabia. This discovery would change the world. Over time, Saudi Arabia quickly became the world’s largest producer and exporter of oil. After World War II ended, Europe was in need of cheap resources to help rebuild and Saudi Arabia supplied them their oil. Relationships were quickly made with the West who heavily depended on the imports for their industries. Western political and government leaders formed bonds with the country. The West began to give the Middle East countries protection in exchange for cheap oil. The oil had a positive impact on Saudi Arabia and the other Middle Eastern oil producing countries, they experienced exceptional growth. Job opportunities skyrocketed and as a result the economy boomed. The Middle Eastern countries that weren’t producing oil even benefited. Many people went to the oil producing countries to fill the jobs and to make money. In return, they would send the money back to their families, and the non-oil producing countries’ economies boomed as well. The non-oil producing countries also benefited from Foreign Aid from the…

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