Seems we have two definitions of "Peak oil" as you say is a decline in oil in the area in a course of a life time. The leftist belief it will never reform oil in a geological scale.
Example of none organic crude oil for gasification is graphite and iron oxide. Which is likely how it's formed on other planets.
The point we're making is the leftist belief in Peak oil being a myth. Though the process isn't going to take place in someones life time. Near surface phreatic (cave pressures) and Phreatomagmatic (heat and water pressure) activity must be right.
Example of this might be the well is Russia called Z-44 Chayvo (from the Sakhalin-I project) which was one of the highest producers of oil in the world. It's a 40,000 foot deep well that had to stop when it hit the Moho (layer between crust and mantel. locals said it sounded like hell coming from the well before they shut it down.)
When looking into the Sakhalin-I project I found that ExxonMobil withdrawal from the project due to "Ukrainian war." Science! It's all about the Science™!
Sakhalin’s claim to fame was offshore drilling from onshore. Angled outwards to get underwater. Ice over that water several months of the year.
Sakhalin is I and II btw. II is mostly gas and is served by Russia’s first LNG export port.
Peak oil has bipartisan hatred, btw. The left have always thought the concept of finite quantity was a right wing conspiracy to persuade everyone they have to drill more to overcome scarcity.
The right wing sneers at the concept of Peak Oil because of basic attitudes that worship the idea of abundance. Some of this is religious . . . God would never present us with a situation we could not solve (and make no mistake here, oil scarcity will kill billions from inability to transport food). Scarcity is also a concept that capitalism cannot confront. Presumption is always that a higher price will cause creation of product. Sort of correct, in that coal can be turned into oil, but only at about $1500/barrel, and the scale is very small.