An amount or quantity beyond what is needed, desired, or appropriate
This is why the world oversupply of worthless corporate execs has caused executive pay to fall over the last few decades.
In contrast to the USA and some developed countries, Asia did not have oversupply.
A national average of 55% of all ARLA member agents reported oversupply compared with 56% in February.
Often after a long period of lay-up or because of contamination in the fuel the needle valve can stick causing an oversupply.
Control of production is intended to avoid an oversupply in the world market, resulting in price wars and reduced profits.