Iran Conflict Disrupts OPEC+ Oil Capacity Review, Delaying Quota Determinations

OPEC+, a group of oil-producing countries led by Saudi Arabia and including Russia, has delayed its review of member states' oil capacity due to disruptions caused by the US-Israeli war on Iran.

The delay is expected to affect the determination of 2027 output quotas for OPEC+ members, which are used as a reference point in negotiations over production targets. The review was originally scheduled to be completed by the end of September 2026, but it has now been pushed back to mid-November.

The conflict in Iran has delayed projects aimed at boosting oil production capacity in some OPEC+ countries, complicating estimates of how much oil they will be capable of pumping. This uncertainty may influence how much individual members are allowed to produce and could potentially affect their quotas.