The U.S. government said on Tuesday it expects domestic oil output in 2016 to grow only 2.2 percent, the slowest pace in years, as the relentless rout in prices puts the brakes on the country’s five-year shale boom. In its first forecast for next year, the U.S. Energy Information Administration said domestic oil production will rise about 200,000 barrels a day to 9.5 million bpd in 2016. That amount in barrels is the smallest increase since 2011. While this would be the second-highest annual average level of production in U.S. history, the slowdown in growth reflects the long-term impact of plunging prices on output as drillers curb higher-cost capacity in some shale formations. “Many oil companies have cut back on their exploration drilling in response to falling crude prices and will concentrate their drilling activities in established areas that already have […]