Saudi's to cut output by 500,000 bbls in DecemberThe Saudi energy minister said today that their December cut was due to maintenance efforts and lower seasonal demand. Nonetheless, it's a positive, and it should get other OPEC members, and Russia, to think about price and production targets for 2019 before they meet Dec 6. A bias towards additional cuts is likely, as establishing a floor, even if it's only $60-$65, would help stabilize the market.