By Arathy Somasekhar and Georgina McCartney

HOUSTON (Reuters) -The U.S. oil industry has laid off thousands of workers and cut billions in spending due to lower oil prices and the biggest consolidation in a generation, in what could mark the end of the rapid output growth that made the U.S. the world’s top producer.

The Organization of the Petroleum Exporting Countries and its allies in the OPEC+ producer group are increasing output to win back market share that was lost to the United States and other producers in recent years. OPEC+ agreed on Sunday to further raise production from October by 137,000 barrels per day.

Those increases have driven international oil prices down around 12% this year to just above breakeven levels for many U.S. oil companies, prompting cuts in spending and j

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