U.S. oil production is set to fall slightly farther than expected a month ago, the U.S. government said on Wednesday, in a sign the year-long slump in global prices is weighing more heavily and for longer than expected on the country’s shale boom. 2016 U.S. crude oil production is expected to fall by 400,000 barrels per day to 8.96 million bpd, according to data from the U.S. Energy Information Administration. Last month, the energy agency also forecasted a decline of 400,000 bpd, but at an output of 9.32 million bpd. While much of the decrease is likely a result of recently revised government forecasts showing downward supply revisions for the first five months of the year, data from the EIA’s short term energy outlook showed that U.S. oil […]