vimal wrote:^^ If US is finally drilling more oil then what use are all these ME abduls to them?
The US needs to keep the price of oil low. The US does not depend on exporting oil to other countries to prop up its economy. Their number one enemy in terms of economic impact is rapidly rising inflation and oil price is the biggest driver (but not the only one, just the biggest) in any rising inflation. It just needs to keep the oil prices stable because rising oil prices have a ripple effect throughout its economic sectors from agriculture & dairy to automotive to airlines which can cost US dearly as a whole as compared to lost profits by not selling at same price as international BRENT prices. US does not really care about the profit of oil although the producers of oil do but as policy priorities go, their number one priority is to keep the oil price stable so its economy doesn't suffer any shock and introduce inflation and the best way to do that is underbid international producers such as OPEC so they don't get uppity and start throwing its weight around. On a tangent, now the Saudis realize that they cannot corner the market anymore. They have effectively lost their ability to move the markets to terms more favorable to Saudis. That is why they are in a desperate mode to diversify their economy before they lose any more control. They are facing a multiple whammy of increasing US production, iranian production, and foreseeable declining/flattening demand for oil due to more EVs and renewable power stations coming online with each passing year in response to climate change and volatility in oil prices.
So the best way to keep the prices low is to keep producing a lot and keep the Mideast region stable. As long as those two requirements are met, US can enjoy low oil prices and keep its inflation rate low.