Ted Cruz: “Their oil production had dropped 19%.”

“So that would have been a permanent economic blow to Iran that would cripple its revenue in perpetuity. They were right at the edge of that. We know from satellite analysis that Their oil production had dropped 19%. So they were reducing their production because they were running out of storage space. And they were right at the point of having to shut in wells and stop production altogether.” (04:45–04:50)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.