Saudi Arabia pretty much can set world petroleum prices at any level they might wish, either by increasing or decreasing the amount they put on the market.
By comparison, the other easily manipulated determinants of world petroleum prices are relatively minor. They normally can be offset by Saudi counteractions.
Therefore, most discussions of the issue are basically wasted bandwidth.
Drill baby Drill!
We’re up to meeting 2/3rds of our needs from domestic production from about 1/3rd a decade ago. We need to get it still higher. We’ve got plenty more sources to drill and frack.