OPEC+ countries’ production capacities to be assessed by end-2026 — Russian official

MINERALNYE VODY, April 30. /TASS/. OPEC+ countries will soon discuss their maximum production capacities and evaluate them by the end of 2026, Russian Deputy Prime Minister Alexander Novak said. "We planned to do it by the end of 2026. We’ll see how this work goes and conduct an appropriate assessment," he told reporters. OPEC+ previously agreed on a mechanism developed by the OPEC Secretariat that will be used to determine maximum production capacity for member countries, and on the basis of which baseline oil production levels will be determined in 2027. Degolyer & Macnaughton company will assess the maximum oil production capacities of 19 OPEC+ states, a source in one of the delegations told TASS.