excessive production; production in excess of need or stipulated amount.

1815–25; over- + production

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World English Dictionary
overproduction (ˌəʊvəprəˈdʌkʃən)
the production of more of a product or commodity than is required

Collins English Dictionary - Complete & Unabridged 10th Edition
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Word Origin & History

1822, from over + production (q.v.).
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Various psychoactive drugs and some activities can produce this overproduction
  of dopamine.
But prices of agricultural commodities are low because of overproduction.
Foreign investors have faced their own pricing troubles in a world gas market
  that faces overproduction.
They they will watch as overproduction pushes prices back down to today's
  levels, or probably lower.
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