OPEC+ Oil Capacity Review Delayed by US-Israeli War on Iran
OPEC+ has delayed its oil capacity review due to the US-Israeli war on Iran disrupting expansion plans in the Middle East. The review aims to determine members' 2027 oil output quotas and had been scheduled for completion by the end of September 2026.
The deadline has slipped, with both sources saying the review is now expected to be completed by mid-November. DeGolyer and MacNaughton, a US petroleum consultant, is working on capacity estimates for OPEC+ members except Russia, Iran, and Venezuela due to US sanctions.
Iran's conflict has delayed projects that were set to boost production capacity in some OPEC+ countries, complicating estimates of how much oil they will be capable of pumping. This uncertainty affects negotiations over output targets and could influence individual members' quotas.