Oil companies could be running full-out, pumps working overtime at 100-percent throughput, and there still might not be any surplus oil. Consumption cannot exceed supply, but demand determines how much people will pay for it. It's a trivial issue with semantics.

My analyses years ago assumed that reserves would decline as they were consumed, that old oil fields would only decrease in size, and that reserves could only increase with the discovery of new oilfields. I must have assumed wrong, or else today there is a giant conspiracy to fudge the data (I did find a few minor errors on the BP spreadsheet, didn't really look hard either).