OPEC report shows Saudi Arabia significantly increased production before Iran was attacked

Golden Ten Data reported on March 11 that the OPEC monthly report shows Saudi Arabia significantly increased its oil production in February, prior to the US and Israel launching strikes against Iran. OPEC also maintained its forecast that global oil demand will see relatively strong growth this year. According to informed sources in February, Saudi Arabia's increase in oil production and exports was part of a contingency plan to prevent disruptions to Middle Eastern oil supplies in case the US launched attacks against Iran. In the report, OPEC stated that Saudi Arabia informed the organization that its oil supply to the market in February was 10.111 million barrels per day, while production was 10.882 million barrels per day. Saudi Arabia had previously reported its January production as 10.1 million barrels per day.