CNBC | Oil is in a correction, and could plunge even further CNBC Here's the big problem with oil. The commodity's fundamentals simply have too many cracks in the foundation to support higher prices. U.S. production continues to grow, surpassing 10.25 million barrels, and I expect another jump in rig counts this week ... Surge in global oil supply may overtake demand in 2018: IEA US on track to become world's largest oil producer Venezuela oil production is plummeting - Feb. 12, 2018 - CNN Money |