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" ... But the United States, by default, has assumed much of that role. Those wells in the U.S. fracklog can’t be tapped immediately — Bernstein Research says it would take about 6 months after oil hits a high enough price for producers to finish a meaningful number of wells and hook them up. But that’s pretty quick in the scheme of things. And the fracklog holds a lot of potential production. Those tight oil wells tend to come online at about 750 barrels per day and will average a cumulative 500,000 barrels or more during their lifespan. So that’s likely more than 1.5 billion barrels of oil just being held back, ready to go. ... "