@AC
" The EU seem to spend so much time searching for groups fixing the price on a product. Hello? Have you heard of OPEC?!"
Actually, I fail to see the link. EU is looking for price fixing done in the EU by companies subject to EU laws.
Is Aramco, the biggest (or second biggest?) oil producer and property of Saudi Arabia doing any business in the EU? Is it subject to EU laws? Last I checked, it was subject to Saudi Arabia law, and that's it, and it didn't sell anything in the EU, it was just selling oil to other companies.
Yes, it's price fixing, but no, it has nothing to do (unfortunately, might you say, but that's not the point) with competition policy inside the EU.
Your complaining about the EU policing flat screens instead of oil is like complaining that though it runs foul of competition policies to discriminate between buyers, the EU is doing nothing to force the US to sell all their latest weapon systems to every country that wants it.
In both cases, it's country sovereignty and that's it. Much as it hurts us (or not), I fail to see why and how EU laws would or should force Saudi Arabia to extract oil it does not want to extract on a given day.