John D. Rockefeller and his associates organized Standard Oil in 1870 to consolidate their oil interests.
The company grew from Rockefeller’s Cleveland refining business, which he had entered with Samuel Andrews and Henry Flagler. Standard Oil used coordinated purchasing, transportation, refining, and distribution to gain efficiency and expand across the United States.
Its business power became controversial because Standard Oil used methods such as preferential railroad rates and aggressive acquisitions. In 1882, its operations were placed under the Standard Oil Trust, an important early example of a large corporate trust.
The U.S. Supreme Court ordered Standard Oil’s breakup in 1911 under antitrust law. The resulting companies included successors that later became Exxon, Mobil, Chevron, Amoco, and Conoco. A common mix-up is treating Standard Oil as one modern surviving brand; it was divided into several major oil companies.