Saudi Arabia’s oil minister said OPEC must continue to work toward market stability to allow needed oil and gas investment to go forward. The group will shed an additional 500,000 B/D of oil production through March 2020, bringing the total curtailment to 1.7 million B/D. The 2019 World Oil Outlook projects tight-oil supplies to rise to at least 75% of total US production before retreating. The move to split oversight of Aramco from the Energy Ministry ends decades of tradition but is designed to avoid conflicts of interest ahead of what could be the largest IPO in history. Trade tensions and economic sentiment take a toll.