OPEC+ delays oil capacity review after Iran war disrupts expansion plans, sources say
LONDON/MOSCOW: An OPEC+ review to help to determine members’ 2027 oil output quotas has been delayed after the US-Israeli war on Iran disrupted projects to expand capacity across the Middle East, throwing estimates of future production potential into uncertainty, said two sources close to the matter. OPEC+, which comprises the Organization of the Petroleum Exporting Countries plus Russia and…
An OPEC+ review to determine members' 2027 oil output quotas has been delayed due to disruptions caused by the US-Israeli war on Iran, according to two sources close to the matter. The review, which was originally scheduled for late 2025 with completion expected by the end of September 2026, has now been pushed back to mid-November.
The conflict has disrupted projects aimed at expanding capacity across the Middle East, making it difficult to accurately estimate future production potential. Not all OPEC+ countries have submitted the necessary data for the review, adding to the uncertainty. The Middle East conflict has also complicated production capacity estimates, which will influence the quotas assigned to individual members during negotiations.
Lower assessed capacities may lead to pressure for smaller quotas, while those with expanded capacities may seek higher allocations.
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