OPEC+ Delays Oil Capacity Review Amid Iran War Uncertainty

OPEC+, which includes the Organization of the Petroleum Exporting Countries plus Russia and other allies, has delayed its review to determine members' 2027 oil output quotas.

The delay is due to the US-Israeli war on Iran disrupting projects to expand capacity across the Middle East, throwing estimates of future production potential into uncertainty.

The OPEC+ review was initially set for completion by the end of September 2026, but has now slipped, with one source saying it's expected to be completed by mid-November.

The review aims to provide an updated independent assessment of how much oil each member can produce sustainably, a key metric used in negotiations over output targets.