As calls for new oil supply around the world grow louder, U.S. shale production is climbing slowly as producers refuse to throw caution to the wind. Drilled but uncompleted wells, the wells that oil companies can bring online most quickly, are falling rapidly but new wells aren’t replacing them. While private shale drillers are bringing as much oil online as they can, public oil companies are remaining cautious. A couple of recent forecasts have projected sizeable increases in U.S. shale oil production this year, sparking optimism for an industry that has for the last two years maintained a culture of discipline and caution. According to the industry itself, caution will prevail. Marathon Oil has no plans to boost production this year, Petroleum Economist reported last month, despite booming oil prices. Pioneer Natural Resources also made it clear it was not going to change its strategy because of prices, with […]