Iran told OPEC on Sunday no member country should be allowed to take over another member’s share of oil exports, expressing Tehran’s concern about Saudi Arabia’s offer to pump more oil in the face of U.S. sanctions on Iranian oil sales.In a meeting with OPEC Secretary-General Mohammad Barkindo, a senior Iranian diplomat urged him to keep the group out of politics. SEE MORE An all-out trade war between the U.S. and China is looming large with the annual value of Chinese products subject to U.S. punitive import tariffs rising to $50 billion on Aug. 23. SEE MORE Global demand for industrial rubber products is forecast to climb 6% per annum during the 2016-2021 period. SEE MORE Large volume inquiries for spot cobalt units returned in the first half of the week, leaving market participants to suggest prices are close to bottoming out after 15 consecutive weeks of declines. SEE MORE Analysts are trying urgently to evaluate the potential impact of a full-fledged trade war on the Chinese economy. This typically involves estimating how much various tariff scenarios will reduce China’s GDP growth, with current estimates ranging from the minimal, 0.1 or 0.2 percentage points, to the substantial -- as much as 2 percentage points. SEE MORE