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I've just been noticing as time goes on some oil wells have been going extinct and oil rigs have been popping up everywhere. I'm in a game where it is like 2500 almost. And no oil wells anywhere. So do they go extinct or something? I check the minimap and industry list and none anywhere.

In the temperate climate with default industries, oil wells can never increase production. So yes, eventually they will decline to the point that they disappear.

alright thanks for letting me know.