OPEC crude oil production increased to a one-year high in August, led by surging output in Nigeria, a Bloomberg survey showed. Production by the 12-member Organization of Petroleum Exporting Countries rose by 891,000 barrels a day to 31.033 million, according to the survey of oil companies , producers and analysts. Last month’s total was revised 80,000 barrels a day lower to 30.142 million because of changes to the Nigerian and Iranian estimates. Nigeria, Saudi Arabia and Angola led gains as new deposits came online, security improved and field maintenance programs ended. Iran and Venezuela were the only members to record production declines. “They are letting it rip,” John Kilduff , a partner at Again Capital LLC, a New York-based hedge fund that focuses on energy, said by phone. “The geopolitical scares out there have supported the market some but any resolution would remove that. We’re heading for a definite […]