"Following the murder of journalist Jamal Khashoggi at a Saudi Arabia consulate in Istanbul, Turkey, some Members of Congress have expressed interest in taking action against Saudi Arabia for its apparent role. The purpose of this In Focus is to provide a non-comprehensive overview of the U.S.-Saudi Arabia energy relationship that dates back to at least 1933, when Saudi Arabia granted an oil concession to Standard Oil Company of California (now Chevron). Since then, this relationship has witnessed the creation--founded by U.S. oil companies--of the Arabian American Oil Company (Aramco), nationalization and ownership transfer of Aramco to Saudi Arabia (renamed Saudi Aramco), a Saudi-supported embargo of crude oil shipments to the United States, and various periods of energy cooperation. Today, the U.S.-Saudi energy relationship includes interests within three general categories: (1)energy trade, (2) business operations, and (3) global petroleum prices."
CRS In Focus, IF11027
Congressional Research Service: https://crsreports.congress.gov/