Peak Oil Production?

no. As is always the case drulling and pumping technology will improve allowing access to more oil from these fields.

The limiting factor is not the amount of oil but our abilty to get to it.

Oil is a not renewable resource.
There are still un-explored sites, and world production may have not yet reached the peak (but I think we are very close to thati) but oil will finish, one day, even though we will get the best drillers in the universe.

@Lightlyseared Oil is a natural resource of Earth. Resource itself is a finite term, so to say that oil is just a discovery away or that its just a matter of drilling using some other technology, you are sadly mistaken. It takes resources to mine resources. Oil isn’t just used for petroleum. Oil is used in paints, plastics, etc and pretty much indirectly affects every aspect of how people live their lives. Consider farm crops; the pesticides they use to spray on the crops require oil, the vehicles they use to collect the crop uses oil, the planes and trucks that export that food require oil. Start to get the picture? Oil is very important. It is not worth our time and effort to research more ways to drill oil since we are sucking it dry from the earth. We need to start vesting time and money into alternative solutions such as wind & solar energy.

Yes oil is a finite resource but you say yourself Oil isn’t just used for petroleum it’s used for lots of other stuff. Stuff that can’t quickly or easily be replaced because you want it to be. We still need oil we for a very long time. In the 80’s oil was forecaste to run out before the year 2000. You will notice that it hasn’t despite increased demands. Ever wondered why that is? Technology has improved meaning we are better able to access oil that until now was too expensive to get. Of course that doesn’t mean that we shouldn’t look for alternatives but we can’t abandon it yet nor for a long time. Sorry but do YOU start to get the picture?