A study conducted by the National Academy of Sciences reports that Iran’s oil profits are dwindling despite growing worldwide demand. Earning $50 billion annually for exporting what has been its lifeblood since 1920, Iran is experiencing a regular 10% decline in oil profits. The heart of the matter appears not to be one of capacity, as Iran possesses the world’s second largest reserve of conventional crude. Rather, Iran’s inability to meet the export quota established by OPEC betrays what appears to be a lack of investment into production capability.
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