IEA : Crude Oil Production Peaked in 2006

For the first time IEA is talking about crude production having already peaked.

http://www.abc.net.au/news/stories/2011/04/28/3202209.htm?section=justin

Only five years ago it confidently stated that oil production was set to rise to 120 million barrels a day by 2030.

But IEA chief economist Fatih Birol says the world's crude oil production peaked in 2006.

He says oil prices are likely to rise 30 per cent over the next three years.

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IEA has till now flatly denied any kind of peak happening soon.

"The existing fields are declining so sharply that in order to stay where we are in terms of production levels in the next 25 years, we have to find and develop four new Saudi Arabias," he said.

"It is a huge, huge challenge that we continue to underline."

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Ironically, TOD says the raising production may produce a new peak in a year or two.

http://www.theoildrum.com/node/7831