OPEC and its allies are unlikely to agree an official increase in crude output when they meet in Algeria this weekend, although pressure is mounting on top producers to prevent a spike in oil prices ahead of new U.S. sanctions on Iran, OPEC sources said. OPEC kingpin Saudi Arabia is worried that any sanctions-related spike in oil prices will trigger fresh criticism from U.S. President Donald Trump but is concerned about a lack of spare oil capacity to offset shortages, the sources said. The kingdom is caught between a rock and a hard place, seeking to prevent prices from rising far above $80 a barrel ahead of U.S. congressional elections while fending off doubts over its ability to compensate for a drop in Iranian supply. “It’s […]