By Ahmad Ghaddar LONDON (Reuters) -OPEC+ delegates are planning to meet in Vienna on Thursday and Friday to discuss the methodology for assessing maximum production capacities for the 22-member
OPEC+ to Evaluate Production Capacity Methodology in Vienna Meeting
OPEC+ Production Capacity Discussion
By Ahmad Ghaddar
Contentious Production Capacity Issues
LONDON (Reuters) -OPEC+ delegates are planning to meet in Vienna on Thursday and Friday to discuss the methodology for assessing maximum production capacities for the 22-member producer group, two delegates told Reuters on Tuesday.
Methodology for Capacity Assessment
The issue is contentious because some members such as the United Arab Emirates have increased their production capacity, pressing the case for higher quotas, while others such as African members have seen declines. Angola quit the group in 2024 over a disagreement on its production target.
Impact of Production Increases
OPEC+ ministers in May asked OPEC's headquarters to develop a mechanism to assess the maximum sustainable production capacity for each member, which will be used as reference for their 2027 production baselines.
This week's meeting is to discuss the methodology for that assessment, one of the sources said, adding that OPEC+ ministers will take a final decision when they meet later this year.
OPEC did not immediately reply to a request for comment.
Baselines are production levels from which each member makes cuts or increases. OPEC+ has been discussing new baselines for the last few years.
Eight members of the OPEC+ alliance, which groups the Organization of the Petroleum Exporting Countries and allies led by Russia, started raising production in April partly in an effort to regain market share.
The increases showed that many members like Iraq and Russia have been struggling to produce at target levels, as others like Saudi Arabia and UAE which have invested heavily in their energy sectors benefited.
(Reporting by Ahmad Ghaddar, editing by Alex Lawler and Susan Fenton)
