All the major oil fields in the world are in decline, except the shale boom in the United States. Bur everything else has declining reserves. And we are not replacing still those fields where else.
Related stocks: Exxon Mobil (COM), ConocoPhillips (COP), Marathon Oil (MRO), Diamond Offshore Drilling (DO), Halliburton (HAL)
Related exchange traded funds: Energy Select Sector SPDR ETF (XLE), United States Oil Fund LP ETF (USO)