OPEC+ Delays Oil Capacity Review Amid Iran Conflict Disruptions

OPEC+, the alliance of major oil-producing countries, has delayed its review of member states' oil production capacity due to the ongoing Iran war. The conflict is disrupting expansion projects in some member states, creating uncertainty over estimates that will be used to set 2027 quotas.

The group had ordered a review of its members' oil production capacity in late 2025, with completion originally due by September 30, 2026. However, the deadline has now been pushed back to mid-November, with one source expecting the assessment to finish by November 15.

OPEC+ is conducting the capacity assessment for its members except Russia, Iran, and Venezuela, which are under US sanctions. The review will be carried out by DeGolyer and MacNaughton, a US petroleum consultant. The company's report is expected to influence future quotas, with producers facing lower capacity potentially seeking lower allocations, while those adding capacity could seek higher quotas.