Middle East Conflict Delays OPEC+ Production Capacity Review

OPEC+, an alliance of oil-producing countries, has postponed its review of member states' production capacities due to the ongoing war between the US and Israel and Iran. The assessment was initially planned for completion by September 30th, but has been pushed back to mid-November.

The conflict in the Middle East has disrupted several projects aimed at increasing oil production capacity in the region, making it harder to determine how much oil countries will be able to produce steadily in the future. Not all OPEC+ participants have provided the necessary data for the assessment, which is being conducted by US consulting company DeGolyer and MacNaughton.

The results of this assessment are expected to become a key benchmark during negotiations on 2027 oil quotas. Countries with lower production capabilities may face pressure to reduce their quotas, while those that have increased their capacities may demand permission to produce more.