You do realise that OPEC is more or less the reason why oil is so cheap right now?
Not Just that. The Shale Industry at USA / Canada put a rope around their neck.
Now that Iran came back with to the Market with the end of the Sanctions, we have a scenario with the PERFECT storm for the Gulf.
A New Innovation that is a menace (Shale), a huge new competitor (Iran), Spendings that cannot be cut under the risk of social unrest.
And to make it even more complicated, the Saudis engaged in a expensive war in Yemen where until now they are definitely not winning.
Saudi Arabia has very clearly decided to bankrupt Russia, and they've got deep enough pockets to ride it out for several years.
While in fact they are giving a hard time for Russia, the Saudis are also running out of funds extremelly fast.
This year the Saudi government will have almost 10% of deficit. What means the biggest deficit of the world.
According to average estimates, they have money to sustain those levels of price until 2018, after that they go bankrupt.
(And cut spending is not an option here...)