OPEC+ Postpones Oil Capacity Review Amidst Iran Conflict Fallout

OPEC+, which includes major oil-producing countries and their allies, has delayed its review of oil capacity due to disruptions caused by the US-Israeli war on Iran. The delay is expected to impact estimates of future production potential across the Middle East.

The OPEC+ review was originally scheduled for completion by September 2026 but will now be finished by mid-November instead, according to two sources close to the matter.

This change comes as a result of the ongoing conflict between the US and Iran, which has disrupted projects aimed at expanding oil capacity in the region. As a consequence, OPEC+ members' 2027 oil output quotas are now uncertain.