Two of Iran’s biggest OPEC rivals, Saudi Arabia and Iraq, are bagging its European oil market share by cranking up production of their lookalike crude grades before the restart of U.S. sanctions designed to halt exports from the Islamic Republic. Iran faces curbs on its energy sector from early November after U.S. President Donald Trump walked away in May from a 2015 deal aimed at restraining Tehran’s nuclear program. Iran’s crude is mainly bought by refiners in China, India, Japan and South Korea, although it has customers in Turkey and the European Union. Buyers seeking an alternative cannot simply opt for any crude on the market. “As oil sanctions against Iran take effect, perhaps in combination with production problems elsewhere, maintaining global supply might be very challenging […]