The Organisation of the Petroleum Exporting Countries (Opec) has said that Saudi Arabia sharply increased oil production in February ahead of US and Israeli strikes on Iran and kept its forecasts for relatively strong global oil demand growth this year, according to Reuters.
Saudi Arabia increased its oil output and exports as part of a contingency plan in case any US strike on Iran disrupts supplies from the Middle East, sources familiar with the plan had said in February.
Opec, in a monthly report on its website, said that Saudi Arabia told Opec its oil supply to the market in February was 10.111 million barrels per day (bpd) while production was 10.882 million bpd.
