Home / Videos / The World Has Too Much OilThe World Has Too Much OilBy Douglas McIntyre • July 7, 2026 The US is producing at record rates. OPEC+ just upped production. China demand is down. More from ClimateCrisis 247Europe Heat Kills 50,000The World’s Worst Climate Diaster is getting WorseOil Executive Sick Of Being Accused Of Making MoneyNatural Gas Is Not Clean At All