CNBC | Big oil to slash spending - but not production CNBC But those reductions are seen coming from the independent producers of high-cost shale, not from the big, multinational oil giants. Total U.S. output will fall to 8.6 million barrels per day next September from last April's peak of 9.6 million ... Oil Industry Cutting Again, But It Still Might Not Be Enough Oil Giants Pledge Even Deeper Spending Cuts Amid Prolonged Slump |