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            • Oil Market Report - June 2026

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                • Country

                Portugal

                Portugal is supporting decarbonisation through a wide variety of measures, such as, coal-fired generation was phased out in 2021. Portugal is further developing its large hydropower fleet, including additional capacity of pumped hydro storage. Portugal is an international leader for integration of wind generation, and auctions are driving rapid deployment of PV and battery storage. Portugal is pushing for better electricity interconnections with the rest of Europe. Portugal’s National Energy and Climate Plan sets 2030 targets for emissions reductions, energy efficiency and renewable energy that aim to put the country a path to achieving cost effective carbon neutrality…

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                Denmark

                Denmark has been an early leader in decarbonisation and in 2022 the government announced a net zero by 2045 target, aiming at 110% emissions reductions by 2050. Denmark’s technology leadership is important in the areas of offshore wind, biomethane and district heating. The government has expanded these categories to adopt a strategic focus on carbon capture and storage (CCUS) and hydrogen. The government has a robust energy and climate governance under the Danish Ministry of Climate, Energy and Utilities and ‘the year wheel’ of Climate Act of 2020 ensures annual policy actions and funding. Among IEA countries, Denmark has…

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                • Country

                Luxembourg

                Luxembourg has a fossil fuel intensive energy mix driven by a high demand for transportation fuels, notably from transiting freight trucks and commuters. Despite this demand, the country is committed to reducing emissions. Its climate law sets targets for a 55% emission reduction by 2030 and climate neutrality target by 2050. The government has adopted numerous measures to push for energy transition, including a carbon tax which was introduced in 2020 and encouraging renewable generation through subsidies and auctions. Several programmes also support energy efficiency in buildings, industry and transportation, with a target for 49% of all passenger cars to…

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                • Country

                Saudi Arabia

                Saudi Arabia has moved forward in the implementation of energy efficiency standards on key sectors and end-uses linked to their energy saving potential. These standards are focused on and the transport and building sectors. For example, new buildings are now required to be insulated.

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                • Country

                Kuwait

                Kuwait is wholly reliant on fossil fuels for energy generation and by 2030, its energy demand will triple. In order to diversify its energy mix, the country targets to increase the share of renewable generation to 15% by 2030.

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                • Country

                Brazil

                Brazil’s energy policies measure up well against the world’s most urgent energy challenges. Access to electricity across the country is almost universal and renewables meet almost 45% of primary energy demand, making Brazil’s energy sector one of the least carbon-intensive in the world. Total primary energy demand has doubled in Brazil since 1990, led by strong growth in electricity consumption and in demand for transport fuels on the back of robust economic growth and a burgeoning middle class.
                Large hydropower plants account for around 80% of domestic electricity generation, making the Brazilian electricity mix one of…

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                • + 5 pages

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                • Country

                Morocco

                The government has stepped up its role in international action on climate change, ratifying the Paris Agreement, setting a new national climate policy and hosting the United Nations Conference of Parties (COP22) summit in Marrakesh in 2016.
                The development of renewables is helping to improve energy security as well as deliver on Morocco’s clean energy and climate change commitments. Morocco is making strong progress towards affordable, reliable, sustainable and modern energy in line with the United Nations Sustainable Development Goals (SDG 7). The government has achieved almost full access to electricity for its rural population, and it is developing…

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                Colombia

                Colombia launched the Energy Plan 2050 in 2016 , which aims to diversify the country’s energy resources and ensure a reliable energy supply by including wind power plants, solar PV and geothermal energy generation in the country's electric mix.

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                • Country

                Lithuania

                Lithuania has undergone several energy transitions over the past decade. Despite importing a large share of its electricity, the country successfully ended its reliance on Russian energy imports in March 2022. Along with its neighbours, Estonia and Latvia, Lithuania disconnected from the Russian electricity system and completed the synchronisation of its grid with the Continental European Synchronous Area (CESA) in February 2025. By 2030, Lithuania aims to shift from being an electricity importer to becoming a net exporter. Although the country’s energy consumption still depends heavily on imported fossil fuels, the share of bioenergy in the domestic energy supply…

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                • + 5 pages

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                • Country

                Greece

                Greece is making progress on its energy transition, including implementing reforms to standardise and simplify licensing procedures for renewable projects and investigating options for offshore wind. Coal fired generation, once the main source of electricity, will be phased out by 2028 at the latest and EUR 5 billion has been committed to assist impacted communities. Auctions are driving strong deployment of solar PV, onshore wind and battery storage. There are also projects for interconnections and renewables to decarbonise electricity on Greek islands. However, more effort is needed boost electrification and improve efficiency in transport and buildings.

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