To be specific this is a peak in conventional crude oil. Essentially conventional crude oil is the oil that we get from places like Saudi Arabia and that we see gushing out of the ground in movies.
Other forms of liquid fuels are liquid natural gas and unconventional crude oil (tar sands, shale oil, ect...). These have not peaked yet according to the IEA but it should be noted that conventional crude oil makes up the vast majority of our liquid fuels. So what does this mean for us?
