ConocoPhillips said traders should be worried about strong oil production growth coming out of the U.S. this year and in 2023, potentially echoing the supply surges of the past decade. The Houston-based oil major upgraded its forecast for U.S. oil supply growth this year after surprise announcements in recent days by Exxon Mobil Corp. and Chevron Corp. to aggressively ramp up Permian Basin production. Output will now grow by as much as 900,000 barrels a day this year, Chief Executive Officer Ryan Lance said on a conference call Thursday. That’s more than a third higher than the Energy Information Administration’s forecast. “I’m absolutely concerned about” it, he said. “If you’re not worried about it, you should be.” Brent crude is up 17% this year to more than $90 a barrel as the world accelerates its economic recovery from Covid-19, inventories run low and concern that some OPEC countries are […]