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            • Oil Market Report - June 2026

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                • Country

                Russia

                Russia is the world’s second-largest producer of natural gas, behind the United States, and has the world’s largest gas reserves. Russia is the world’s largest gas exporter. In 2021 the country produced 762 bcm of natural gas, and exported approximately 210 bcm via pipeline.

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                Cuba

                Cuba’s energy supply mainly comes from oil products, accounting for over 80% of power generation.

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                Chile

                Chile’s energy policy has evolved dynamically in recent years. In response to changes in the domestic and international environment, significant institutional and policy reforms as well as major infrastructure projects have been carried out. In 2022, Chile’s Ministry of Energy published an update to its the Long-Term Energy Policy (PELP, first published in 2015), which re-emphasises the pledge to net-zero, laying out a clear decarbonisation pathway that addresses all sectors of the national economy.
                Based on its excellent renewable energy resources, Chile has taken a globally leading role in clean energy, and emerged as a…

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                • Country

                Burkina Faso

                In 2019, Burkina Faso’s energy mix was dominated by biofuels and wastes, with oil products accounting for one-third of the total energy supply. In 2020, 11% of the population had access to clean cooking and only 21% had access to electricity, making Burkina Faso one of the world’s least-electrified countries. For electricity, the country has a target of 95% access for urban areas and 50% for rural areas by 2030. For clean cooking, Burkina Faso has a universal access target for urban areas and 65% in rural areas by 2030. The target for LPG urban penetration…

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                • Country

                Senegal

                In Senegal, 65% of the population has access to electricity. Strong policies and incentives have supported liquefied petroleum gas (LPG) use and less than 25% of the urban population now relies on solid biomass for cooking.

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                Yemen

                In Yemen, less than half of the population has access to electricity. In 2010, the government launched a National Strategy for renewable energy and energy efficiency, which aims to develop grid and off-grid renewable energy and targets a 15% share of renewable electricity generation by 2025.

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                Paraguay

                Paraguay established renewable energy targets in its National Development Plan 2014–2030. The country’s goal is to reach 60% of renewable energy in total energy consumption by 2030. By the same year, Paraguay aims to reduce by 20% the share of fossil fuel within its total energy consumption.

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                • Country

                Azerbaijan

                Azerbaijan has one of the highest energy self-sufficiency ratios in the world as a major crude oil and natural gas producer. While the renewable sector has not seen as much attention, the government is now looking to stimulate investment and accelerate deployment, allowing for diversification of domestic energy consumption. In addition, the government is working on a new energy strategy that will set the stage for further policy shifts. Azerbaijan 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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                • Country

                Guatemala

                The National Energy Plan of Guatemala defines the promotion of renewables as a priority. The plan aims to promote the use of clean and environmentally friendly energy for domestic consumption without losing sight of energy security and the need for supplying electricity at competitive prices.

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