The "oil conspiracy" in which Saudi Arabia is accused of participating is simply the rational desire of Saudi Arabia to maximize the value of its oil reserves, and that requires them to try to halt investment in fracking, and the spread of the practice, as well as to discourage or frighten others from searching for oil in regions where the cost of finding and producing is high, or in investing in solar or wind energy, or building more nuclear power plants, or producing electric cars. These are all a danger to the Saudis and their attempt to make sure they are not left with hundreds of billions of barrels of oil in the ground, unsold and unsellable. Their main target is the American energy industry. That's something the Iranian conspiracy-theorists, malignant and turbaned, can't allow themselves to understand.
If the Shi'a in the oil-producing Eastern Province do attack oil installations, what makes Iran think that the Arabs of Khuzestan -- Iran's oil-producing region -- can't be persuaded to engage in tit-for-tat retaliation?