According to research firm Wood Mackenzie, the global decline rate of existing fields is around 5%, which means that we lose about 4.6 million barrels per day of production capacity each year. While allowing for the additional production from shale and the countries mentioned above thus far, putting that much production burden on a select few places becomes increasingly difficult.
https://www.********/investing/2018/11/25/oil-prices-this-execs-outlook-says-this-downturn-w.aspx
According to research firm Wood Mackenzie, the global decline...
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