U.S. oil production is at an all-time high

In the past week, domestic oil production has reached an average of 9.2 million barrels a day, the highest average since the government began keeping records of crude production.

Fortune notes that even though a production glut has caused a collapse in the global crude market and layoffs across U.S. oil companies, that glut hasn't impacted oil production in the U.S. The past week has seen an increase in U.S. oil production by a daily average of 49,000 barrels.

U.S. crude stockpiles also exceeded expectations for the week of Feb. 6, growing by almost five million barrels to reach 417.9 million barrels. Gasoline stockpiles also rose by two million barrels.

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