I think the biggest problems where oil prices are concerned lie in the markets - specifically the futures markets. Oil being a commodity on a par with gold, traders continuously jockey to gain the best positions in selling and buying , with the inevitable result that the real cost of the product becomes almost irrelevant.
It's this worrying market globalisation that, if it continues unchecked, will almost certainly result in companies wielding far, far greater power than mere countries in the future . I think it can be argued that in the case of some countries, they already do.