Oil production will run out in 2048

The BP Statistical Revi­ew of World Energy published in June 2008 said that the world has as many as 1,238 billion barrels of oil in proved reserves. This equals about 40 years of uninterrupted oil supply -- just from oil pumped from the ground and held in reserve alone. These data were compiled from reported reserves from nations around the globe and oil consortiums like OPEC (Organization of Petroleum Exporting Countries).