Persian Gulf oil trade

The extraction and maritime export of petroleum from countries bordering the Persian Gulf, linking regional oil fields to global markets through ports, pipelines, and shipping routes.

Persian Gulf: A shallow sea between the Arabian Peninsula and Iran, connected to the Gulf of Oman through the Strait of Hormuz. Its ports and offshore fields form the maritime setting for regional petroleum exports.
William Knox D'Arcy: A British entrepreneur whose oil concession led to the discovery of commercial petroleum in Iran. His concession initiated the early industrial oil enterprise on the Gulf's northern shore.
Abdulaziz Ibn Saud: The founder and first king of Saudi Arabia, whose rule began in 1932. His government granted the concession that launched Saudi Arabia's oil industry.
Oil price: The monetary value assigned to crude oil or a petroleum product in a market or contract. Changes in Gulf supply and shipping conditions can move benchmark and regional prices.
Oil embargo: A deliberate restriction or halt in petroleum exports used to exert economic or political pressure. The 1973 Arab oil embargo showed how export decisions could affect distant economies.
Strait of Hormuz: A narrow waterway linking the Persian Gulf with the Gulf of Oman and the open ocean. Most seaborne oil exports from the Gulf pass through this strategic bottleneck.
Anglo-Persian Oil Company: A British oil company founded in 1909 to develop petroleum resources discovered in Iran. It built the first large-scale export infrastructure for Gulf petroleum.
Frank Holmes: A New Zealand-born mining engineer and oil entrepreneur who pursued petroleum concessions in the Gulf. His negotiations helped secure early oil exploration rights in Bahrain and Kuwait.
Energy security: The reliable availability of energy at affordable prices and with manageable risks. Importers depend on Gulf exports while seeking protection from supply interruptions.
1973 oil crisis: A global economic shock caused by the 1973 oil embargo and subsequent oil-price increases. It revealed the worldwide consequences of disruption to Gulf-linked petroleum supply.

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