When mature oil wells shut down, bottom water rushes in a process called water coning. Oil droplets get permanently trapped in rock pores. This oil can never be recovered. Iran's fields already declined 5 to 8% annually. Forced shut ins could permanently destroy 300,000 to 500,000 barrels a day of production capacity. That's 9 billion to $15 billion a year in revenue gone forever. (15:03–15:08)
CLAIM
Asserts the annual decline rate of Iran's oil fields.
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