>>The falling of the Persian Gulf oil empires is near <<
Oil is a blessing for the Gulf states .
Oil exploration in the middle of the 20th century has made this poor and impoverished region one of the richest regions in the world. 
Iran , Qatar, Kuwait and the United Arab Emirates are also richer than Switzerland. 
Even Saudi Arabia, Bahrain, and Oman are equal with Japane and British.
The period when the Gulf states and their wealth funds were money-making machines that could pay for any cost of plan(s) on any continent , is coming to an end and their national wealth reserves are running out at this low oil price.
Even in the worst-case scenario, when oil prices reach $ 10 a barrel and the entire world oil industry will faced to damaged, Gulf producers will continue to save of the owns profit. 
But, the problem is their economy.
They need higher oil prices to balance their budgets and support dollar-related currencies.Their central banks and sovereign wealth funds of those countries , have high reserves to over of such a crisis and can even withstand the long-term risk of falling demand, but their reserves will be empty of oil at such a low price.
The IMF's report shows that in these four years, the net financial assets of the Gulf kingdoms have fallen by about half a trillion dollars from two trillion dollars. So , Oil by $ 20 a barrel will accelerate the depletion of these reserves and bringing it to zero.
This means planning and destroying the Middle East and the Persian Gulf. as if , the Middle East must always be involved in war, poverty and suffocation to increase the assets for great world powers .

Citation to link:

ww.bloomberg.com/opinion/articles/2020-03-22/saudi-russia-oil-price-war-heralds-end-to-gulf-luxury-lifestyle