everyone wanting to buy it, and the fact its becoming less available.
Not quite true.
The USD is in the toilet, and as the price of oil is quoted in USD it means it takes more USD to buy a barrel hence the price. The declining value of the USD also means that investors are looking for safehavens for the monies, hence they invest in commodities such as oil, gold or even uranium etc.
As to declining supplies, this is only true in a sense. Although we may have reached peak capacity for easy to reach oil, i.e. (a lot of the stuff that OPEC pump) the world has vast untapped reserves. Either these require deeper drilling or more complex refining processes, however all that is happening is the world is running our of cheap oil. With oil even at 80-90USD per barrel (rather than yesterdays USD 146), refining of oil shale and other techniques start to become viable. Of course it takes time for refining and extraction techniques to change, but a lot of the hysteria around "peak oil" and running out of supplies is hyperbole (or a rather effective method of the Govt extracting revenue by Green taxes).
Despite all this, in the short term, things will get more expensive until either the USD increases in value or oil production increases.
And now your all a little bit brighter.