Oil's Black Friday drop could hit drilling budgets for 2019

HOUSTON (Reuters) - North American oil producers that have been increasing spending to take advantage of this year's higher prices will dial back as November's reversal fuels worries about a 2019 surplus, energy executives say.U.S. light sweet crude settled on Friday at $50.42 a barrel, down nearly 23 percent since October and the lowest in more than a year over worries about oversupply and the Sino-U.S. trade war. The drop comes as many oil producers are assembling drilling budgets for 2019...