According to a study by the German-based Energy Watch Group (EWG) global oil production reached its peak in 2006. The report also predicts that oil production will now fall by 7% per year, meaning it will fall by half as soon as 2030. The report’s author has described the steep fall after the peak as particularly worrying.

The report contrasts sharply with other projections, most notably those of the International Energy Agency. This is because the EWG report is based on actual production data which, according to EWG, makes it more reliable than other reports based on industry estimates of remaining oil reserves.

The authors of the report warn that a steep decline in oil production could lead to massive global unrest. They predict that falling supplies of fossil fuels will trigger a structural change to the world’s economic system, which will influence almost all aspects of human life.

Read more from The Guardian