BAF NEWS

Nov. 30 OPEC+ meeting: key decisions

OPEC+ approves 2027 capacity review at its Nov. 30 meeting, according to Reuters and Bloomberg. The alliance kept opec+ 2026 output quotas unchanged and flagged a q1 2026 output pause by eight members.

The review will underpin quota setting from 2027. Meanwhile, the steady policy for 2026 offers continuity while the technical work proceeds.

OPEC+ approves 2027 capacity review: what it means

Officials endorsed a mechanism to assess each member’s maximum sustainable capacity, according to available reports. OPEC said it will use the results to set 2027 production baselines and final quotas.

As a result, OPEC+ approves 2027 capacity review becomes the bridge between today’s limits and 2027 targets. The question of maximum sustainable capacity remains delicate inside the group, given some producers are investing to lift output while others face constraints.

This design also aims to reduce disputes about baselines. However, implementation details and data transparency will be closely watched.

Timeline: from Nov. 30, 2025 to 2027 quotas

From Nov. 30, 2025, the mechanism moves into implementation phases. In early 2026, eight members intend to keep a pause on increases, consolidating near‑term policy.

By late 2026, capacity assessments should inform 2027 production baselines. Then, in 2027, those baselines will shape assigned quotas. After OPEC+ approves 2027 capacity review, the alliance sets a clear sequence from decision to delivery.

The timeline gives operators and buyers a planning horizon. Yet, it still allows for market‑based adjustments if conditions change.

2026 output policy held steady

The group left opec+ 2026 output quotas unchanged. This decision signals continuity for producers and consumers. It also buys time to complete the capacity review without adding fresh policy noise.

Stable guidance can help refiners and national planners manage budgets. Nevertheless, demand and inventory trends will continue to influence sentiment.

Eight members to pause output hikes in Q1 2026

Eight OPEC+ countries have an agreement in principle to keep a q1 2026 output pause. The step aims to smooth the handoff from current targets to 2027 production baselines.

However, the pause remains contingent on market signals. It may be revisited if price or demand swings sharpen.

How the 2027 capacity review will set quotas

The review will audit maximum sustainable capacity across participating members. That definition influences 2027 production baselines, and it remains politically charged. Some producers want higher baselines to reflect recent investments. Others struggle to meet current allocations.

Therefore, OPEC+ approves 2027 capacity review attempts to codify a fair method while limiting disputes. It will likely weigh sustainable, not peak, volumes over a defined period. In turn, the resulting baselines would translate into country quotas for 2027.

Data credibility will be central. So will the alignment of methodologies across very different producers.

What’s Next: capacity assessments and near‑term supply

Technical teams will gather data, test methodologies, and align the rules. Meanwhile, the q1 2026 output pause and steady opec+ 2026 output quotas define supply into early 2026.

According to Reuters, OPEC+ has released about 2.9 million barrels per day since April 2025 and still has roughly 3.24 million bpd in cuts in place. Those volumes frame the space for adjustments while the review proceeds.

Ultimately, the results will harden 2027 production baselines and finalize quotas. Traders will track how capacity findings affect each producer’s share of the 2027 pie.