The us can strategically take other oil production offline, globally, through economic espionage and especially, "The Big Hammer" re: the US military.
(Iraq War. The goal was to OFFLINE Iraqi oil production as a boon to Saudi interests. Look at historical oil prices/oil production started around 2003.)
They (the US) can also theoretically nationalize oil production and drive oil prices even lower, through increased production. *The US has done this occasional in the past, especially if deemed in the national interest,
It's a geopolitical stalemate, where both the US and Saudi Arabia have each other by the balls. Cooperation is therefore a more likely strategy. At least for now.