U.S. shale drilling may be slowing, but not fast enough for OPEC to change policy at its June meeting or to prevent oil prices maybe falling more, in the view of the group’s Gulf members. Actual oil output from the United States could prove harder to beat back, sources in the Gulf say after poring over the latest data with top consultants. The message is, do not underestimate the ability of the oil industry to adapt: there can be cost cuts, restructuring and consolidation and that would take time, the sources said. “These two years, 2015-16, are still a discovery, everybody is talking about the economics of tight oil but nobody is talking with certainty… you have to wait and see,” said a source from a Gulf OPEC producer. At its last meeting in November, OPEC kingpin Saudi Arabia persuaded fellow members to keep production unchanged, […]