They've been saying it "will be replaced" for decades. I'm saying it "is being replaced". Big difference. 1 TW of solar and 20% of car sales are massive numbers we've never seen before.
Solar doesn’t compete with oil, it competes with other electricity generation like coal and gas. But even that is not declining yet, globally.
Global coal demand may finally have reached its peak, if we’re being optimistic.
Natural gas and oil demand are still increasing.
There are more ICE cars on the road than ever.
Perhaps you meant the pace of growth is slowing this year. But that has a lot to do with the macro economic situation, with central banks around the world cutting rates as growth slows (and some countries enter recession.) The global economy is slowing, when it rebounds again, so will growth in oil demand.
We're still far from peak demand.