Iran’s OPEC Governor: Oil could reach $140/ barrel on US sanctions and Venezuela concerns

Iran’s OPEC Governor Hossein Kazempour is on the wires now, via Reuters, speaking about the US sanctions on Iran and prospects of oil output boost by Saudi Arabia.

Key Headlines:

It is “crazy and astonishing” that the US asked Saudi Arabia to cover the shortfall in Iranian oil exports.

Oil could reach $140 per barrel following the US sanctions on Iran, Venezuela.

No one in OPEC will accept sanctions against two founder members.