Oil markets have priced in nearly all the potential impact of the shale oil boom in the years ahead and energy-importing countries will only record a relatively small boost to their economies from low crude prices, a study published by the European Central Bank showed. The price impact of any further increase in shale supply is seen at less than plus or minus $4 per barrel, primarily because Saudi Arabia’s production could fall by 1 million barrels per day (boepd) between 2014 and 2018, the study’s authors said on Thursday in a paper that does not represent the ECB’s formal opinion. Brent crude prices more than halved over the past 16 months as output, particularly shale oil in the U.S., soared and demand failed to grow as fast as expected. World crude supplies grew to 96.3 million boepd in the second quarter of this year, a 6 percent rise […]