{"id":103090,"date":"2025-12-07T00:00:00","date_gmt":"2025-12-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/12\/07\/opecs-new-capacity-audit-explained\/"},"modified":"2025-12-07T00:00:00","modified_gmt":"2025-12-07T00:00:00","slug":"opecs-new-capacity-audit-explained","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/12\/07\/opecs-new-capacity-audit-explained\/","title":{"rendered":"Opec+\u2019s new capacity audit, explained"},"content":{"rendered":"

Opec+ has recently approved a significant overhaul to its quota system in years<\/strong> \u2014 a move that could reshape alliances inside the group, trigger a new wave of upstream spending, and reset who gets to pump what from 2027 onward. The decision<\/a> centers on a new baseline calculation mechanism and a multi-stage audit that aims to tie future quotas to what each country can actually produce. <\/p>\n

This is Opec+ trying to fix a credibility problem years in the making<\/strong>, including widening gaps between official quotas and actual production, persistent overpumping by some members, chronic underdelivery by others, and tensions around how capacity is measured.<\/p>\n

What\u2019s new? <\/strong>The cartel agreed to use a new methodology to set members\u2019 baselines, set to become the foundation for future quotas. Between January and September, 19 out of the 22 Opec+ members will undergo a technical review covering each country\u2019s oilfields and infrastructure to determine the volume that can be brought online within 90 days and sustained for one full year \u2014 what the group calls a country's \u201cmaximum sustainable capacity,\u201d Bloomberg<\/a> reports, citing one of the group\u2019s delegates. <\/p>\n

Once each country\u2019s capacity is assessed<\/strong>, the group will assign a quota that represents an equal percentage of capacity for every member. Members\u2019 capacities will then be formally approved in an Opec+ meeting in November, where quotas for 2027 will be set. The process will be repeated annually.<\/p>\n

A familiar face will reportedly conduct the audit: <\/strong>Dallas-based firm DeGolyer and MacNaughton \u2014 the petroleum consultancy that audited Aramco\u2019s reserves ahead of its IPO \u2014 will conduct the audit, the business news service added.<\/p>\n

\u2026but not for everyone:<\/strong> Russia, Venezuela, and Iran objected to the external auditor due to the ongoing tensions and sanctions with the US. A yet-to-be-named Indian firm will reportedly audit Russia and Venezuela, while Iran chose to use its average production for August, September, and October as its baseline, according to Bloomberg.<\/p>\n

Why does this matter now?<\/strong> Because quotas no longer align with reality. Many Opec+ producers simply can\u2019t hit their targets, while a few can pump far more than their assigned limits. Twelve of the 18 members with quotas were producing below target in October, Reuters<\/a> reported, citing data from Platts.<\/p>\n