OPEC+ Delays Capacity Review Amid Middle East Conflict

OPEC+, an alliance of oil-producing countries, has delayed its review of members' production capacity due to disruptions in the Middle East caused by the US-Israeli war on Iran. The conflict has halted projects aimed at increasing production capacity in some OPEC+ countries, complicating estimates used to determine output quotas for 2027.

The review was initially scheduled for completion by the end of September 2026 but is now expected to be finished by mid-November. This delay will likely affect assumptions used in the assessment and potentially influence members' future production allocations.

Countries with lower sustainable production capacity may face pressure for lower quotas, while those that have expanded capacity could seek larger allocations. The exercise comes amid disagreements within the producer group over quotas, with some countries seeking higher allocations to reflect increased production capacity.