OPEC Production Dipped in August: Survey

OPEC’s crude oil production fell last month, according to a new survey. The drop in production comes as Libya’s oil industry continues to struggle under the pressure of civil unrest. A new Bloomberg survey revealed on Tuesday that OPEC’s crude oil production fell by 70,000 barrels per day in August, to 27.06 million barrels daily. The loss was due to Libya’s production hiccup, which saw a dip of 150,000 bpd. Meanwhile, the survey showed that Kuwait and Nigeria both increased production. Libya’s production losses are…