NEW YORK (MarketWatch) — Falling oil prices haven’t taken the wind out of U.S. oil producers just yet. Weekly data from the Energy Information Administration on Thursday showed U.S. production totaled 9.06 million barrels a day in the week ended Nov. 7, the highest level since the 1980s.

That appeared to overshadow an unexpected drawdown in weekly crude supplies, with traders sending Nymex WTI crude futures CLZ24, -1.04% briefly below $75 a barrel, the lowest trade for a most-active futures contract since September 2010, according to FactSet.