OPEC’s oil output is likely in August to reach its highest in recent history, a Reuters survey found on Wednesday, as extra barrels from Saudi Arabia and other Gulf members make up for losses in Nigeria and Libya. Production in top OPEC exporter Saudi Arabia has likely reached a fresh record, sources in the survey said, as it meets seasonally higher domestic demand and focuses on maintaining market share. Other big Middle Eastern producers, except Iran, also boosted output. Supply from the Organization of the Petroleum Exporting Countries has risen to 33.50 million barrels per day (bpd) from a revised 33.46 million bpd in July, according to the survey based on shipping data and information from industry sources. The gain could add to scepticism about renewed OPEC talk of freezing output to support prices. Oil has risen towards $48 a barrel from $42 at the start of August, helped […]