OPEC crude oil production hit an eight-year peak in July, but may fall this month amid turmoil in major member countries, UBS said on Tuesday.
OPEC output rose by 150,000 barrels per day (kb/d) to 33.39 million barrels per day (mb/d) last month, as Saudi Arabia pushed its production to a new high and Iraq pumped more, according to the International Energy Agency.
OPEC has been in focus this month following speculation that some members were once again trying to engineer a production freeze between OPEC and non-OPEC members like Russia. The rumor was fueled by the announcement that an informal meeting of OPEC ministers will take place in September.
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