I suggest that you educate yourself on the topic if you’re interested. A great place to start is Daniel Yergin’s excellent The Prize. That is an account of the history of oil exploration and production (and the strategy around it during the World Wars), including the numerous booms and busts of production and refining.
The price of oil has always moved dramatically upward and downward through our history with it. Predictions of its imminent exhaustion have moved right along with it. (And those have been serious predictions from honest, sober experts. That is, predictions that were not always intended to drive up prices – although there has certainly been that, too.)
However, it is a finite resource, of course, and expendable. All resources are finite on the planet, obviously, but most are recyclable in one way or another. When oil exploration moves so deep under the planet’s surface and so far from shore as to be economically unfeasible … then someone will probably invent new technologies to keep going deeper and farther. That has always been part of oil’s history, too.
Even so, even so, eventually it will “run out” in the sense that the costs to recover “the next barrel” will rise to a point that the replacement technologies – which already exist – will be more attractive.
The replacement technologies include (not exhaustively; I’m no expert in the field of liquid fuels):
– coal oil (this is technology that’s older than I am, and we have more coal than you can imagine around the world);
– natural gas (ditto);
– alcohol fuels (the big promise here is in cellulose-based methanol, not ethanol which uses food crops).
That’s without even getting into electric vehicles and/or nuclear generation of electricity, whether by fission – which already exists, even if it’s currently unpopular – or fusion – which always seems to be “right around the corner”.