U.S. shale oil boom ends as lower prices take toll: Kemp - Reuters

U.S. shale oil boom ends as lower prices take toll: Kemp - Reuters:

U.S. oil production growth is decelerating gradually in response to lower prices, which should reduce predicted over-supply in 2020 and force the global oil market back toward balance.

Domestic crude production fell 276,000 barrels per day to 11.806 million bpd in July, according to data published by the U.S. Energy Information Administration on Monday.

The month-on-month reduction was entirely attributable to the Gulf of Mexico, where output fell 332,000 bpd, because many offshore platforms were shut due to the threat from tropical storm Barry.