[Uranian22]

Oil was doomed to peak out as supply could not compete with demand, and there was only so much of the black stuff to drill for anyway. People have demanded less oil as prices climbed, so now oil is coming down in price to reflect that reality. Is that the reality?There seems to be production on the decrease with decreased demand. Does this mean that oil peaks in any scenario?

[Aaron]

Peak Oil, as depicted above lol, is a decades long event.

The smaller the time measured, the less significant the conclusions we can draw from them. Watch averaged prices over longer time frames for a more accurate picture.