Insight
The next decade of OPEC+ oil growth
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
In an uncertain investment environment, and with many IOCs strategically constrained, there is a sense of growing reliance on OPEC+ to deliver oil supply growth over the longer term. Each member faces distinct challenges in meeting, maintaining, or growing supply. To varying degrees, sanctions, a lack of investment, infrastructure limitations, political or financial headwinds and fundamental resource limitations will temper growth outcomes. The reality is that only two OPEC+ countries have a clear path towards achieving their stated longer-term growth goals. Even then, achieving the targets in the expected time-frame could be a stretch.
Table of contents
- Saudi Arabia – expanding oil capacity to 13 million b/d by 2027
- Russia – Ukraine invasion undermines oil growth plans
- Iraq – growth momentum has stalled
- United Arab Emirates – oil capacity target of 5 million b/d by 2027 is ambitious
- Kuwait – achieving 3.5 million b/d will be a struggle
- Iran – stuck in sanctions limbo
- Mexico – an uphill task just to reverse production decline
- Kazakhstan – remains highly reliant on megaprojects
- Angola – just treading water
- Nigeria – enduring the worst upstream crisis since 2016
Tables and charts
This report includes the following images and tables:
-
Saudi Aramco maximum sustainable capacity (MSC) growth plan
-
Russia oil and condensate supply forecastUAE oil production outlook from commercially defined projects
- 1 more item(s)...
What's included
This report contains:
Other reports you may be interested in
Insight
Unlocking stranded gas: how Equatorial Guinea is building its gas future
The Gas Mega Hub concept is gaining momentum, with three phases underway. Future stages could expand EG LNG’s role as a regional gas hub.
$1,350
Insight
Global Upstream Update: July 2026
Key themes: conflict curtailed supply; unlocking discovered resource; old basins and new tricks
$1,350
Asset Report
Chevron - Lower 48 upstream
Upstream valuation of Chevron's assets in the US Lower 48
$22,800
