Within the longer run the strongest OPEC members ought to be capable of defend their market share, even when oil demand slumps due to an financial crash. At this time worth of about $90 a barrel, the overwhelming majority of the world’s oil is financially viable. If oil costs fall by half, practically all Saudi Arabia’s enormous reserves stay worthwhile; the identical can’t be stated for America, Canada or Russia (see chart). Ought to local weather motion reach decreasing demand to a fraction of what it’s right this moment, these low-cost producers would be the final ones left.