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            • Oil Market Report - June 2026

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                • Country

                Sweden

                Sweden is a global leader in decarbonisation and has targets to cut greenhouse gas emissions 59% by 2030 compared with 2005, and to have a net-zero carbon economy by 2045. Sweden was the first country to introduce carbon pricing and has the highest carbon price in the world, which has proven effective at driving decarbonisation. Most of Sweden’s electricity supply comes from hydro and nuclear, along with a growing contribution from wind. Heating is supplied mainly through bioenergy-based district heating and heat pumps.
                Most of Sweden’s greenhouse gas emissions come from the transport sector, which remains…

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                • Country

                Botswana

                Coal production is set to increase in Botswana, but exports remain limited and mainly involve trade with neighbouring countries. Regarding electrification rates, the country has recently made good progress through a large push for mini-grid and off-grid solutions in rural areas.

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                • Country

                Mexico

                Mexico’s energy and economic profile presents both challenges and opportunities as a major oil producer, exporter and through its growing domestic energy demand. Mexico was the first large oil producing emerging economy to adopt climate legislation in 2012 and has seen growth in renewable electricity generation from wind and solar, which almost tripled from 2015 to 2022. However, strong action is needed across all sectors to reduce reliance on fossil fuels and bring down greenhouse gas emissions.

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                Belgium

                Belgium’s energy policy is focused on transitioning to a low-carbon economy while ensuring energy security, lowering costs for consumers and increasing market competition. Belgium has made progress on these goals, notably as a global leader in offshore wind. The country is also seeing a rapid uptake of electric vehicles. However, Belgium remains reliant on fossil fuels and more aggressive policies are needed accelerate emissions reductions, especially for the industry sector.

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                • Country

                Democratic Republic of the Congo

                The Democratic Republic of the Congo has huge hydropower potential while also dealing with extreme energy poverty. Foreign investors are currently partially lifting constraints on the country’s hydropower capacity, which is bringing down the costs of power supply and reducing the share of oil-fired power.

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                • Country

                Mauritania

                In 2019, Mauritania’s energy mix was dominated by oil products (65%) and biofuels and waste (32%). In 2020, 43% of the population had access to clean cooking which is the highest share in West Africa. In 2020, 47% of the population had access to electricity. For electricity access, the country targets universal access in urban areas and doubling of the current rate in rural areas by 2024, with country-wide universal access by 2030. For clean cooking, the target is 100% access to LPG in urban areas and 50% access to LPG in rural areas by 2030.

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                • Country

                Kazakhstan

                Kazakhstan is a significant producer of coal, crude oil and natural gas, and a major energy exporter. While coal dominates the country’s energy mix, renewable sources of energy are a small but growing share of Kazakhstan’s electricity generation. Gas pipeline network expansion remains a priority, in order to expand access and reduce reliance on coal and LPG for household consumption. Kazakhstan is part of the EU4Energy Programme, an initiative focused on evidence-based policymaking for the energy sector.

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                Finland

                Finland has one of the most ambitious climate targets, a legal obligation to reach carbon neutrality by 2035. It is making progress towards this target and has one of the lowest levels of reliance on fossil fuels among IEA member countries. Finland’s forests, which historically offset significant greenhouse gas emissions, have become a net emissions source. A continued push towards the energy transition is needed, as imported fossil fuels still account for over one-third of energy supply and cover higher shares in transport and key industries.

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                Lebanon

                The government of Lebanon launched the "National Energy Efficiency and Renewable Energy Action" in 2010 a mechanism dedicated to the financing of green energy projects in the country. Private sector entities can apply for subsidised loans for any type of environmentally friendly projects.

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                • Country

                Bulgaria

                Bulgaria adopted The Energy from Renewable Sources Act in 2011. The Act regulates the generation and consumption of energy from renewable sources with the aim of achieving the national targets in terms of renewable energy use in final gross energy consumption.

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