OPEC+ delays 2027 oil capacity review to mid-November after Iran war disrupts projects

October 2, 2026 at 04:13 PM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

OPEC+ has delayed its production capacity review for 2027 output quotas after the US-Israeli war on Iran disrupted expansion projects across the Middle East, two sources close to the matter said. The review, originally due by end-September 2026, is now expected to be completed by mid-November. The delay complicates a politically sensitive exercise that will influence how much individual members are allowed to pump.

Key Facts

OPEC+ ordered the production capacity review in late 2025 with completion due by end-September 2026.
The review is now expected to be completed by mid-November, according to one source.
The United Arab Emirates left OPEC+ in May after pushing for a higher quota.
Iraq is seeking a higher quota and has considered leaving OPEC, sources told Reuters in June.

Capacity Review Delay

OPEC+ had ordered its production capacity review for all members in late 2025 before setting 2027 quotas. The review was due by the end of September 2026, but the deadline has slipped. One source said the review is now expected to be completed by mid-November. The OPEC producer group did not respond immediately to a request for comment.

Production Capacity Estimates

The Middle East conflict has delayed projects that were due to boost production capacity in some OPEC+ countries. Not all countries have submitted the data required for the review, the sources said without naming the countries. The uncertainty complicates a politically sensitive exercise for OPEC+, with production capacity estimates likely to influence how much individual members are allowed to pump. 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.

Quota Pressures

Countries whose assessed capacity is lower could face pressure for lower quotas while producers that have expanded capacity might seek higher allocations. The United Arab Emirates, which had pushed for a higher quota from OPEC+ to reflect rising production capacity, left the alliance in May. Iraq is also seeking a higher quota and has considered leaving OPEC, sources told Reuters in June.