OPEC report shows Saudi Arabia significantly increased production before the attack on Iran

OPEC monthly report shows that Saudi Arabia significantly increased oil production in February before the U.S. and Israel launched strikes against Iran. OPEC also maintained its forecast that global oil demand will remain relatively strong this year. An informed source stated in February that Saudi Arabia’s increase in oil production and exports was part of an emergency plan to prevent disruptions to Middle Eastern oil supplies in case of U.S. strikes against Iran. The report indicates that Saudi Arabia informed the organization that its oil supply to the market in February was 10.111 million barrels per day, with a production of 10.882 million barrels per day. Saudi Arabia’s previous reported January production was 10 million barrels per day.