The logo of the Organization of the Petroleum Exporting Countries (OPEC) is pictured at its headquarters in Vienna, Austria, May 30, 2016. Top oil exporter Saudi Arabia boosted its oil output to a record high in July, it told OPEC, in a sign key members remain focused on market share rather than tackling a supply glut by curbing production. The monthly report from the Organization of the Petroleum Exporting Countries also said output from the 14-member group hit a new high last month, indicating excess global supply may persist into next year. Oil declined almost 15 percent in July on concern about a glut of crude and finished products that would delay a long-awaited rebalancing of the market. The drop in prices has prompted speculation OPEC may seek to revive a deal with outside producers to freeze output. “Cheap crude has led refiners to produce more refined products worldwide, […]