the posted numbers for Ghawar is absolute shite. SA 'discovers' just about the same amount of reserves that it takes out of the ground. The cut rate has been steadily climbing as a result of the sea-water used to pump.
https://www.resilience.org/stories/2004-07-29/trouble-worlds-largest-oil-field-ghawar/
Peak oil is not an argument I am defending or presenting.
It is interdasting that they are now looking to the petro-chemicals sector for it's revs.
Unless the world is just going to stop running on oil it still needs to produce plastics.