Fracking, which is blamed by some for causing earthquakes in the US, could unlock nearly 140bn barrels of global oil supplies — equivalent to Russia’s known reserves, says a study.
Countries such as Iran, Russia, Mexico and China stand to gain most from exploiting techniques used by modern-day wildcatters in America’s shale revolution to breathe life into their ageing oil and gasfields, according to analysis by IHS, the research company.
Two-thirds of the extra recoverable oil would come from the Middle East and Latin America, it has estimated.
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