Oil production and consumption is higher than ever and projected to keep increasing to 2030 (though I do not personally believe this).
The demand growth is driven by the transportation sector, particularly in the developing countries.
Despite the recent successes of electrical cars, auto fuel consumption is still rising, and the absolute growth in conventional auto sales is, incredibly, almost one hundred* times larger than growth in electric car sales (an extra 3.1 million conventional cars were sold worldwide in 2016 cf 2015).
And even though you could argue that we can see the beginning of the end for petrol powered cars, industries such as construction, mining and agriculture - not to mention air travel - are much harder to convert to electricity.
Sooo... I expect we will be reliant on oil for a while to come yet.
*edit: sorry that is probably wrong, according to some sources the electric vehicle market grew by almost 300,000 vehicles per year... although that depends just what is counted as "electric". In any case, electric cars have a huge gap to close just to arrest the climb in conventional vehicle sales.