OPEC+ delays oil production capacity review for 2027 quotas

OPEC+ has delayed its assessment of member production capacities, a review essential for establishing oil production quotas for 2027. Originally due for completion by the end of September 2026, the evaluation is now expected to be finalized by mid-November.

The delay is attributed to regional instability in the Middle East, specifically the conflict involving the United States, Israel, and Iran. This conflict has disrupted projects intended to expand production capacity and has created significant uncertainty regarding future supply potential. Additionally, some member states have not yet submitted the necessary data for the study.

The technical analysis is being conducted by the US-based firm DeGolyer and MacNaughton. Due to existing US sanctions, Russia, Venezuela, and Iran are excluded from this specific analysis.

The findings of this review are highly sensitive as they will directly influence political negotiations over individual member quotas. Countries with higher assessed capacities may advocate for increased production, while those with lower capacities may face pressure to reduce output.