The forces shaping oil markets

Amid the disruptions resulting from the conflict in the Middle East, energy systems have come under significant pressure – compounded, in some parts of the world, by record-breaking heatwaves. But one of the most effective tools for easing these strains – and energy costs – remains underutilised. In this episode, we speak with Brian Motherway, who leads the IEA’s work on energy efficiency and affordability. He explains why we often fail to make use of the world’s “first fuel” – energy efficiency – and discusses practical steps governments can take to help consumers save energy and money, without compromising economic growth or their quality of life.

What did the global energy landscape look like just before the outbreak of the war in the Middle East sent shockwaves through energy markets in March? What were the major trends – and what might they tell us about what comes next? In this episode, IEA energy analyst Alex Martinos discusses the findings from the Global Energy Review 2026, which provides a comprehensive assessment of global energy trends in 2025. He highlights important developments across fuels, technologies, the electricity sector and emissions, along with the potential implications for the current energy context.

Around the world, billions of people use liquefied petroleum gas, or LPG, to cook their meals. Today, many of them are under substantial pressure, with global LPG supplies severely disrupted by the conflict in the Middle East. In 2025, 30% of all LPG exported by sea transited through the Strait of Hormuz – a route that’s seen shipping slow dramatically since the end of February. In this episode, IEA energy analysts Marina Petrelli and Arthur Rogé discuss the latest developments in LPG markets – and what price increases and supply shortages have meant for some of the world’s most vulnerable communities. They also speak about the impact of the market turbulence on expanding clean cooking access, particularly in sub-Saharan Africa.