Israel Matzav: Iran running out of oil?

Iran running out of oil?

The Information Center on Intelligence and Terrorism says that Iran is running out of oil.

Iran will turn from the world's fourth leading exporter of oil to an importer in eight years, according to a special report issued by the Tehran government, which was translated and distributed by the Information Center on Intelligence and Terrorism.

The report cites an eight percent average drop in production a year, coupled with a five percent annual increase in consumption. It also notes a drop in foreign investment in Iranian oil fields, where $4.5 billion a year is needed to maintain its current 2.5 million barrels-a-day output.

Maybe they can import it from Venezuela. Heh.

Israel Matzav: Iran running out of oil?