The Baggies' current run of four consecutive wins has seen them climb above European champions Chelsea, a club Steve Clarke left to become Albion boss.
Albion are now just four points behind leaders Manchester United ahead of Wednesday's game at Swansea City and it is a position Olsson says is deserved.
The Swedish international told Sportbladet: "We have a strong side and a nice depth in the squad. The defensive organisation has been really good.
"We have deserved all the points, because we have played good football."