OPEC+ Delays Production Capacity Review Amid Middle East Conflict

OPEC+, the alliance of oil-producing countries including Russia and major Middle Eastern nations, has delayed its review of production capacity until mid-November. The delay was prompted by disruptions to expansion projects in the region due to the US-Israeli war on Iran.

According to sources, OPEC+ had called for a comprehensive review of all members' production capacities in late 2025, with completion targeted for the end of September 2026. However, the target has now passed, and the review is expected to wrap up by mid-November.

The delay complicates the process of setting oil output quotas for 2027, as estimates of production capacity are crucial in determining how much each member can pump. Some countries have yet to provide data needed for the review, making it harder to gauge their future production potential.