The U.S. shale boom, which has sent the nation’s output to a 28-year high, is curbing the impact of the Iraq crisis on the oil market, said Nansen Saleri, former head of reservoir management at Saudi Arabian Oil Co. Prices would have climbed more this month if techniques such as hydraulic fracturing and horizontal drilling hadn’t bolstered U.S. crude output, said Saleri, who is now chief executive officer of Houston-based consultant Quantum Reservoir Impact. West Texas Intermediate oil, the U.S. benchmark, has climbed $5 to $10 on supply anxiety, he said. “Were it not for the increase in U.S. production, that’s gained close to 2 million barrels a day, we would see a $20 to $30 rise in prices,” Saleri said in a telephone interview. “The surge in U.S. production is a hugely stabilizing factor.” WTI for July delivery rose to $107.68 a barrel on the New York Mercantile […]