The American Chemical Society reports that conventional crude oil production world wide might peak in 2014, a decade sooner than other predictions have indicated. We’ll soon be on the way down. A chart shown here depicts who has peaked, along with predictions of the others. The study doesn’t account for shale oil and oil sands production, so it isn’t actually a model for world oil production.
Canada, the U.S., Mexico, Russia, Norway, the U.K., China, Iran and Indonesia are among the many countries that have gone beyond the peak in conventional production. OPEC is slated to cross the divide in 2026.