OPEC+ members will undergo annual assessments of their oil production capacity starting in 2026, with results used to set more accurate output baselines for 2027. The move aims to close the growing gap between official quotas and actual production and follows years of disputes, including Angola’s 2024 exit over quota disagreements. U.S. consultancy DeGolyer and MacNaughton is expected to assess most members, while separate arrangements will be made for Russia, Iran, and Venezuela due to sanctions concerns. The new system is intended to reward countries investing in capacity growth and strengthen the credibility of future OPEC+ agreements. The assessments come as many producers continue to pump below targets amid declining spare capacity and limited recent investment.
