Iran's OPEC Gov Kazempour: Other OPEC producers can't easily replace Iran's oil exports by November

Reuters reports comments from the Iranian OPEC governor Hossein Kazempour, as he says that the US sanctions on Iran are likely to cause a steep increase in oil prices.

Additional Comments:

Other producers in OPEC can't easily replace Iran's oil exports by November.

They would have to tap their reserves to make up for Iran's missing barrels.

It would be a short-term solution that would lead to costlier crude.