Known since the 1950s but confirmed only recently by the IEA. World oil supply won't run out. Rather, "easy oil" will not be available.
Deutsche Bank, the U.S. military, the German military, etc., confirm a drop in KSA oil production next year or the following. Look for the reports online.
Renewable energy, etc., cannot easily replace oil because the energy return for them is much lower.
The consequences will be significant because much of manufacturing and mechanized agriculture are heavily dependent on oil, not only for energy but for petrochemicals.