American oil executives will sleep a bit better tonight after Saudi Arabia signaled it's coming to the rescue of the battered crude market. Saudi Arabia announced plans on Sunday to cut shipments by half a million barrels per day in December. And the kingdom threw its weight behind OPEC and its allies reducing supply further next year. It's a big reversal. Just months ago Saudi Arabia, under pressure from President Donald Trump, was opening up the taps in a bid to prevent $100 oil. Saudi Arabia's 180 is good news for US shale companies, especially high-debt frackers that are sensitive to price swings. It signals that ... (full story)