Oil prices surged on Thursday, with Brent crude approaching $100 a barrel following reports of an attack on two oil tankers near Iraq’s Basra port, raising concerns about potential supply disruptions in the Middle East.

Crude oil production by the Organisation of the Petroleum Exporting Countries (OPEC) rose by 164,000 barrels per day (bpd) in February compared to January 2026, reaching around 28.63 million bpd, according to the group’s latest Monthly Oil Market Report on Wednesday.