 World crude oil production (including lease condensates) according to US EIA data decreased from a peak of 73.720 mbd in 2005 to 73.437 in 2006, 72.981 in 2007, and 73.697 in 2008.According to peak oil theory, increasing production will lead to a more rapid collapse of production in the future, while decreasing production will lead to a slower decrease, as the bell-shaped curve will be spread out over more years.In a stated goal of increasing oil prices to $75/barrel, which had fallen from a high of $147 to a low of $40, OPEC announced decreasing production by 2.2 mbd beginning 1 January 2009.