Oil Asia OPEC’s crude production increased by 40,000 bpd in August over July to a record-high in recent times, with Saudi Arabia likely setting a fresh output record, according to the Reuters survey published on Wednesday. The closely-followed survey is based on shipping data and information provided by industry sources. Last month, total OPEC output rose to 33.5 million bpd from 33.46 million bpd for July, with output by Middle Eastern producers offsetting oil taken offline in Africa’s Nigeria and Libya. Reuters sources said that Saudi Arabia had likely reached a new production record. The survey puts the output of OPEC’s biggest exporter at 10.70 million bpd, up from 10.67 million bpd. Some industry sources even predict that Saudi Arabia may have pumped 10.90 million bpd in August. According to the survey, among the Middle Eastern countries, output rose last month in Iraq, Kuwait, Saudi Arabia and UAE, while […]