Top U.S. shale oil producers say they remain laser focused on shareholder returns, limiting production expenditures largely to offset higher costs for equipment, supplies and services. The decision likely will hold down oil output increases while benefiting shareholders receiving higher payouts through dividends and share repurchases with U.S. crude prices above $95 per barrel. Devon Energy (DVN.N) this week raised its capital spending budget about 6% to between $2.2 billion to $2.24 billion, in part due to inflationary pressures. It has a $2 billion share buyback authorization in place, and said it could seek approval for additional purchases after raising its cash dividend by 22% from the prior quarter. Midland, Texas-based Diamondback Energy reiterated its focus […]