Is peak oil here, again?

ABSTRACT Oil production from the United States might peak in the next few years, as tier 1 drilling inventory starts to run out. The world has plenty of oil resources to continue to grow production. However, global oil demand might peak for the first time in human history, due to the push for renewable energy and market share growth of electric vehicles especially in Europe and China. Oil production peaking in the United States might lead to more companies looking for growth opportunities overseas. The importance of OPEC+ countries will grow more in the future global oil market.