Shale oil production in Texas has increased steadily for more than a year and gains have spilled over into the broader economy, a federal reserve bank said. The Federal Reserve Bank of Dallas said that “positive signs are starting to reappear for the Texas oil and gas sector” as crude oil prices held above $50 per barrel for much of the third quarter. The price for West Texas Intermediate, the U.S. benchmark for the price of oil, is up 25 percent since the start of July and trading near $56 per barrel early Friday. Crude oil prices were supported by a decline in commercial crude oil inventories, compliance with an effort steered by the Organization of Petroleum Exporting Countries and recent […]