OPEC+ officials to discuss output capacity assessment in Vienna: Report

Logo of OPEC

OPEC+ officials are set to meet in Vienna on Sept. 18-19 to discuss the methodology for assessing member countries’ maximum production capacity, Reuters reported, citing informed sources.

In May, OPEC+ ministers tasked the alliance’s secretariat with developing a mechanism to determine each country’s sustainable production capacity, to serve as a reference for setting output baselines in 2027.

Sources indicated that this week’s meeting will address only the methodology, while a final decision is expected at the ministerial meeting later this year.

Output baselines are used to determine production levels that guide decisions on supply cuts or increases. OPEC+ has been weighing adjustments to these benchmarks for several years.

In April, eight members of the alliance — which includes the Organization of the Petroleum Exporting Countries (OPEC) and allies such as Russia — raised their output in a bid to regain market share.