Who gave concessions to the west concerning their oil?

Answer 1

The concessions to the West concerning oil were primarily made by various Middle Eastern countries, notably during the mid-20th century. Countries like Saudi Arabia, Iran, and Iraq entered into agreements with Western oil companies, allowing them to explore and extract oil in exchange for financial compensation and technological assistance. These arrangements were crucial in establishing the global oil market and securing energy resources for Western nations. In particular, the 1950s and 1960s saw significant concessions as countries sought to develop their economies and infrastructure.