在1953年，美国地质学家哈伯特（King Hubbert）大胆预言，美国石油生产速率将于60年代末至70年代初左右达到顶峰，达到了顶峰之后就会一直下降。这种情形叫做哈伯特顶点（Hubbert's peak）或石油顶峰、油峰（Peak Oil）。石油顶峰的概念并不等同于石油枯竭(oil depletion)。石油顶峰意指石油出产率(每年生产桶数)达到最高点，石油枯竭意指石油蕴藏量与供应下滑的现象。

由于当代经济活动大多依赖石油，因此有观察家预言，石油顶峰之后的石油出产率下滑阶段，将会因油价攀升而对全球经济造成负面影响。

Peak oil, an event based on M. King Hubbert's theory, is the point in time when the maximum rate of extraction of petroleum is reached, after which it is expected to enter terminal decline. Peak oil theory is based on the observed rise, peak, fall, and depletion of aggregate production rate in oil fields over time. It is often confused with oil depletion; however, peak oil is the point of maximum production, while depletion refers to a period of falling reserves and supply.