Oil production limit reached: expert Date: Monday, July 10 @ 05:31:22 PDT Topic: Geology; Reserves; Oil Fields
An international oil industry expert says the limit of global oil production has been reached.
Academic and former National Iranian Oil Company executive Dr Ali Samsam Bakhtiari has told the Financial Services Institute in Sydney the world's oil fields are producing as much oil as they can.
Dr Bakhtiari says for the first time in 150 years, the world is entering an era in which it cannot have all the oil it wants.
