I don't think so, if US dollar is backed by Saudi Arabian oil then why it's current money value isn't the same as Saudi Real? U.S. dollars are backed by the full faith and credit of the U.S. Government, that is what I strongly believe for now.
I agree. the American government won't like that, they certainly don't want to be dependent on other countries, instead they have to be the opposite. especially at this time the American president from a businessman background
therefore even though the price of oil rises the US dollar will continue to rise because their government will certainly not depend on other countries so that the US dollar will experience an increase in itself rather than depending on the price of oil or the country of people