OPEC confirms big Saudi oil production hike ahead of Iran war, holds forecasts steady
LONDON, March 11 (Reuters) - OPEC said on Wednesday that Saudi Arabia sharply increased oil production in February ahead of U.S. and Israeli strikes on Iran and kept its forecasts for relatively strong global oil demand growth this year, according to a draft of its monthly report seen by Reuters.
Saudi Arabia increased its oil output and exports as part of a contingency plan in case any U.S. strike on Iran disrupts supplies from the Middle East, sources familiar with the plan had said in February.
The attack came on February 28 and the resulting conflict has disrupted oil exports, forced production stoppages and sent prices soaring.
OPEC, in the draft copy of its report, said that Saudi Arabia told OPEC its oil supply to the market in February was 10.111 million barrels per day while production was 10.882 million bpd. Saudi Arabia reported its production at 10.10 million bpd for January.
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