Other countries could experience oil production revolutions as untapped shale formations could hold larger amounts of technically recoverable oil than formations in North America, a report from IHS Global Insight says. North America contains about 43 billion barrels of commercially recoverable oil, but there are 148 shale plays that could hold 300 billion barrels of technically recoverable oil, according to the study. "This study makes clear that the potential for global tight oil is there and that it is very, very large," said Jan Roelofsen, research director at IHS.

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