U.S. oil production growth is slowing down in response to lower international prices. The trend will likely extend in evidence that the shale industry is at a new stage in its evolution. The days of a million-bpd annual growth rate may be over—unless prices rise. In its latest Short-Term Energy Outlook, the Energy Information Administration reported an estimated production rate for this year of 13.2 million barrels daily. That’s up from 12.9 million barrels daily last year, which is already a revision on earlier estimates about production…
