Absolutely. What are their alternatives though? If they limit supply to keep artificially high prices they will still get a diminished accumulated income due t

Absolutely. What are their alternatives though? If they limit supply to keep artificially high prices they will still get a diminished accumulated income due to market share erosion. They will also encourage investment in oil producing capacity outside OPEC, risking further market share erosion. If they let supply and demand set the price it will eventually drive high OPEX producers out of business, somewhat mitigating their losses in market share and with the possibility for them to recover some of their lost income. It's a matter of high OPEX products going out of business before they run out of cash reserves