OPEC Delays Oil Capacity Review Amid Iran Conflict Disruptions

OPEC has delayed its review of oil production capacity for its member countries due to disruptions caused by the conflict involving Iran. The assessment, which will help determine the 2027 production quotas, was originally scheduled to be completed by the end of September but is now expected to be finished by mid-November.

The delay adds uncertainty to estimates of how much oil OPEC+ members will be able to produce in the future. Projects aimed at increasing production capacity in some Middle Eastern countries have been disrupted, and some members have yet to submit the required data for the assessment.