"It's the only major oil exporter occupied by the US military (makes me wonder about the reported production numbers), "

I have thought of this more than once.  What if production could be/was pumped up 500,000 or down and nobody knew.

Would it be possible to do that?  Have their production be kinda like an "Oil Slushfund"  so to speak.

The administration already has an oil slush fund. It's called "the Strategic Petroleum Reserve." There is reason to believe it's being used that way, too....