The Saudis are no longer allies and are quickly becoming friends with the Iranians and the Chinese to shore up supply and demand.
The US only cares about middle east oil prices insofar as it goes to secure cheap energy for its allies. Now it looks to South America as its new partner. Manufacturing is moving to Latin America too. Mexico, in particular, is growing by leaps and bounds. Neighboring Texas is going to become a powerhouse of value added manufacturing.
It's a huge geopolitical shift that would have been unthinkable twenty years ago.