OPEC+ to develop oil capacity assessment mechanism for 2027 deal
Photo: Reuters
OPEC+ will create a new mechanism to evaluate the maximum oil production capacities of member countries, which will help determine base production levels for the 2027 OPEC+ agreement, according to a statement released after the latest ministerial meeting.
OPEC+ countries also confirmed current arrangements and kept oil production quotas established until the end of 2026, News.Az reports, citing foreign media.
The next OPEC+ ministerial meeting will be on November 30.
The alliance also kept the agreement to hold meetings of the monitoring committee once in two months. The committee has the opportunity to request ministerial meetings to be held at any time when needed.
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