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

A California oil rig.
(Image credit: David McNew/Getty Images)

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.

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