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OPEC has enough spare production capacity to cushion oil markets if the U.S. reimposes sanctions on Iran, according to UAE Energy Minister Suhail al-Mazrouei. Three members of OPEC – Saudi Arabia, Kuwait and the UAE – together have enough capacity, Mazrouei said in an interview with Bloomberg Television in Abu Dhabi.OPEC has an adequate "buffer" of potential output, he said.U.S. President Donald Trump announced plans last week to withdraw from the Iran nuclear accord and reimpose U.S. sanctions on OPEC's third-biggest producer.Mazrouei declined to quantify OPEC's unused production capacity.
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