On Sunday Iran announced that OPEC shall not allow any member of group to substitute output of other members, Reuters reports. This announcement was made amid concerns that Saudi Arabia may raise production ahead of US sanctions against Iran.

Washington is trying to make its allies to reduce oil import from Iran to zero and is going to implement additional sanctions on sales of Iranian oil, as well as on banking sector of the country on November 4. In August Washington introduced sanctions on purchase of US dollar by Iran as well as on trade by gold and precious metals. Iran is now looking for ways to avoid these measures.

Meanwhile, Saudi Arabia and Russia showed that they are ready to remove limits on oil productions to calm customers that worry about future of oil supply.