OPEC chief: Cartel must stay together as US sanctions Iran:
OPEC must stick together for the good of the global economy as founding member Iran faces renewed U.S. sanctions, the head of the cartel said Tuesday — though he did not address how an already-tight market will make up for the loss of Iranian supply.
Mohammed Sanusi Barkindo also said an agreement between OPEC and non-members that cut production and helped bring prices back up from lows of $30 a barrel in January 2016 was now “a permanent feature.”
Cementing that arrangement would be one of the topics of discussion as OPEC meets this Sunday in Algeria, he added.
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