OPEC is concerned about threats to oil supply from large producers, such as Iran, Bloomberg reports referencing to official representatives of the organization.

US sanctions to sales from Iran, which is third largest OPEC's supplier, will take effect on November 4. However, export of Iranian oil is already declining.

Average oil price this year is $72 per barrel. International Energy Agency warns that the prices may rise above $80, if producers do not compensate for deliveries from Iran and Venezuela. According to IEA, threat to supply is more important problem today, than possible reduction of demand due to trade war.

OPEC's members and other producers will meet on September 23 in Algiers to analyze results of achieving output targets.