WORLD HISTORY

Detailed explanation-1: -The Middle East has always had a rich abundance of natural resources, although which resources are coveted and valued has changed over time. Today, abundant petroleum fields dominate the area’s economy.

Detailed explanation-2: -The middle eastern natural oil resources contain 48 percent of the world’s oil reserves which is related to the presence of favorable geological conditions for hydrocarbon generation such as thick source, reservoir rocks, and structure.

Detailed explanation-3: -As the land in the modern Middle East region rose due to tectonic activity, the Tethys Ocean receded. What remained in its place was the sandy, dry Middle Eastern desert. But deep under the sand, the oily remains of billions of microscopic lifeforms still lie buried.

Detailed explanation-4: -Without oil our machines, many of our factories, our way of life would come to a halt. Without oil we could not hold the sea, which permits us to hold together the far-flung fragments of the Free World and thereby keep an uneasy peace.

Detailed explanation-5: -Saudi Arabia The kingdom has 17.2% of the world’s total proved oil reserves and ranks second among the countries with the largest oil reserves, just behind Venezuela. The country is also the largest exporter of petroleum, as per the Organisation of the Petroleum Exporting Countries (OPEC).