Petroleum, a very valuable natural resource, has become a major pillar in the development of modern industry. The history of petroleum begins thousands of years ago, when ancient peoples used oil for lighting and medicine. However, a major revolution in the use of petroleum occurred in the 19th century with the invention of the steam engine and the development of the automotive industry. In 1859, Edwin Drake discovered the first way to efficiently refine oil in Titusville, Pennsylvania. This discovery sparked the first “Oil Rush”, which brought many people to the oil fields of the United States. Also, the invention and development of the oil-powered automobile by Henry Ford in the early 20th century created a very high demand for petroleum. In the midst of increasing consumption, oil-producing countries, such as Saudi Arabia, Russia and the United States, are starting to understand the economic potential of petroleum. OPEC or the Organization of Petroleum Exporting Countries was founded in 1960 to regulate and increase price stability and production. One of the key moments in oil history was the 1973 Oil Crisis, triggered by the Arab oil embargo that had a major impact on the global economy. In recent decades, oil exploration and extraction technology has developed rapidly. Techniques such as horizontal drilling and fracking (breaking up rock to release oil) have opened up new oil fields in locations previously considered unviable. This not only increases production but also raises controversy regarding environmental impacts. Additionally, attention to renewable energy and sustainability is increasing challenges for the oil industry. Several countries are investing heavily in alternative energy to reduce dependence on petroleum. Global society is starting to switch to electric vehicles and cleaner energy sources. These changes could affect long-term demand for oil. Petroleum also has an important role in geopolitics. Many international conflicts and tensions are driven by oil interests. For example, the invasion of Iraq in 2003 was filled with speculation regarding control over the country’s oil resources. The existence of large oil reserves often inserts a country into the circle of global economic and political power. Despite sustainability challenges and geopolitical uncertainty, petroleum remains a valuable commodity. Investments in new technologies, diversification of energy sources, and efforts to reduce greenhouse gas emissions are becoming a major focus for the industry. For more than a century, petroleum has played an important role in shaping the world economy, modernization and social change. Its developments continue to attract attention and have a big impact on the future of the world.