❗️OPEC+ delays 2027 oil capacity review after war on Iran disrupts projects

An OPEC+ assessment intended to help determine members’ 2027 oil production quotas has been postponed after the US-Israeli war on Iran disrupted capacity expansion projects across West Asia, creating uncertainty over future production potential, two sources to Reuters said.

OPEC+, which includes the Organization of the Petroleum Exporting Countries, Russia and other allies, commissioned the capacity review for all members in late 2025 ahead of setting 2027 quotas. The assessment was originally scheduled to be completed by the end of September 2026.

The deadline has now been pushed back, with both sources saying the review is expected to be completed by mid-November.

At its most recent group-wide meeting in June, OPEC said it reaffirmed "the importance of completing the maximum sustainable production capacity (MSC) assessment for all (member) countries to be used as reference for 2027 production baselines".