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They most certainly are colluding but that is not against the rules of the countries involved.Could it not be argued that OPEC is colluding and fixing prices? Is this not against the rules.
It is against US rules yes, but what the US fails to grasp is they have no proper jurisdiction anywhere other than in the US.
Just like the laws of Australia, Canada or France don't apply in the US, so too US laws don't apply in Iran, Indonesia or Venezuela. This is the bit Americans seem to have difficulty grasping - their laws do not apply to other countries.
My point is not about the price of oil but about the arrogance of the US in thinking they have the right to enforce their laws on others. If they just want to lower the price of oil then sensible discussions with the likes of Iran, Saudi etc aiming for greater cooperation with importing countries rather than threatening them with sanctions or legal action would seem more likely to succeed.
Given that Iraq, an OPEC member, doesn't even have a properly functioning power grid I'm sure they be open to the idea of US investment and technical assistance as part of a deal. Likewise, if Trump were really skilled, he might even be able to get the Saudi's to cooperate with Qatar instead of digging a trench to physically separate the two countries. That alone has the potential to put about another million barrels per day of oil on the market.

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