The more oil on the market, the less pressure on all consumers, the price will go down for all. The more non-Mideast oil on the market, the world becomes less of a hostage to the inevitable regional disturbances. I long for the day when the USA is no longer a de facto Mideast country.
Secondly, since its a world market, the Saudis or whoever can drill less and make more. Nice little cartel they have.