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 Turmoil in the Middle East and the concurrent rise in oil prices are reviving the debate over how much oil the world can produce.
Concerns about the oil industry's ability to meet demand over the long term contributed to the surge in oil prices back in 2008, when futures neared $150 a barrel.

The U.S. Energy Information Administration predicts global consumption of crude oil and similar liquids will reach 110 million barrels a day by 2035, compared with about 88 million barrels a day currently.

Christopher de Margerie chairman and chief executive of France's Total SA, says he can't fathom how global oil output can grow beyond 95 million barrels a day.

"We can start being again a little bit worried about our capacity" to meet the world's demand, Mr. de Margerie told an audience at the annual IHS CERA energy conference here, a high-profile gathering of energy officials.

The future crunch will mean that developed countries will be faced with reducing their own oil consumption, to offset the developing world's thirst for fuel. "The answer is, definitely, we have to reduce demand," Mr. de Margerie said.