Nice collateral damage. But they aren’t cutting production and losing market share to someone else. Their breakeven cost is <$20/bbl so they have a ton of headroom.
I have doubts that all of Saudi's production is really that low. They have started enhanced oil recovery on Ghawar years ago. They spent $17 Billion on Manifa for 900,000 BPD of heavy, sour (cheap) oil.
Their problem, and most of the other producers, is their spending. They need oil back up to $106 to match what they are spending. They are quickly spending billions at these prices.
Where do you get <$20/bbl?
If consumption outpaces production, who’s oil is not being purchased?
True, they also have the benefit of tens or hundreds of billions of dollars of financial reserves that the rest of the Middle East and Russia do not have.