Agreed, however Iran has consistently pushed for an increase in prices within OPEC. The Saudis have kept prices reasonable until now... The Iranian government has demonstrated a willingness to attack U.S. interests on every front including the oil industry. Petroleum prices have a direct impact on our economy and no matter how accurate the price estimate is, Iran’s policies are the rocket propulsion driving oil prices into the stratosphere.
It might be so. Gov't policy affecting oil prices can be noxious, as it was when the Saudis, our friends, staged their oil embargo. There is OPEC though, which definitely is the main control over oil price. They would like to have oil price high, but at the same time want to keep their market viable. If they set the price too high, they lose business even if the world oil supply is not as elastic as it once was. The last thing they want is for oil consuming markets to turn to nuclear power and permanently reduce oil imports.