They suffer the same consequences but differing levels. Saudi Arabia still relies on western managers to run its oil industry and does not micromanage it. It sets output and allows the managers to reach and sustain those levels. Venezuela micromanages its oil and micromanagement entails macro thievery and corruption. The value disappears before the government as government even gets its hands on it. Arabia is suffering but has vast reserves of money it saved which it is running through pretty rapidly as the spending it has committed itself to is not sustained by the income from the decreased price of oil. It will hit the wall at some point. If it does the rational thing and cuts spending it will then face a Wahhabi explosion the Sauds will not survive. They have to either get the price up or they have to somehow eliminate the Wahhabis. The second will be no easier a thing to do than the first. The Wahhabis actually share the rule of the Kingdom and are the religions police and the morals enforcing forces in the country. Many of the Sauds themselves are Wahhabis and the civil war that would follow a real effort to reduce spending which would reduce jihadism in the world would be the end of the Sauds and the initiation of some sort of Jihad State.
Most Saudis do not work at all. They went from being nomads wandering the desert to being waited on hand and foot by expat workers. It would be such poetic justice for Saudis to have to start to do their own work.