The U.S. Energy Information Administration revised upward its 2015 domestic oil production outlook, but lowered its 2016 forecast because it expects the slump in global prices to weigh on the country’s shale boom next year. Expected total oil production in 2015 will rise to 9.35 million barrels per day, slightly higher than the 9.3 million bpd forecast last month, the EIA said on Tuesday in its monthly short-term energy outlook. The revision comes a day after the EIA released data showing that oil production from U.S. shale fields will grow at its lowest pace in over four years starting in April, on the back of low prices and company spending cuts. An EIA spokesman said the revision is due to an increase in baseline expectations for the fourth quarter and to production in the Gulf of Mexico. Offshore production in the Gulf is more resistant […]