The data comes from the United States Department of Energy's Energy Information Agency's (EIA) report on Global Oil Production, published earlier this week. The black diamonds are the global oil production numbers from excel sheet t14.

It is fairly apparent that oil production has reached a plateau. Growth in the oil supply seems to have stopped.

By extending the best fit curve out two years, we would find that by December of 2008, world oil production would be only 82 million barrels of oil per day (mbpd). This suggests the world may have reached peak oil, the history making all-time maximum of global oil production.

Global oil production is about 8 mbpd less than projections from only a few years ago. This huge shortfall represents major changes in the energy supply. It is a new paradigm, one of heralding the end of growth.