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2025-09-16 14:09:57
[OPEC+ will discuss capacity updates this week] OPEC+ representatives will meet in Vienna this week to hold preliminary discussions on the procedures for updating member countries' capacity estimates. Sources said the meeting is scheduled for September 18-19. Delegates hope to reach an agreement on a mechanism for assessing each member country's maximum sustainable crude oil production capacity. The OPEC+ Secretariat hopes to submit a feasible plan to OPEC+ ministers by the end of the year. The alliance of 22 oil-producing countries plans to use capacity estimates to determine a new production baseline and use it to calculate production targets for 2027. OPEC+ originally planned to use the new production baseline in 2025, but due to internal disagreements, the implementation time was postponed to 2026 and then to 2027.
