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            • Oil Market Report - June 2026

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                • Country

                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

                Togo

                Less than half of the Togolese population has access to electricity. The country has a relatively diversified energy mix and more than 13% of its final energy consumption comes from renewable supplies of energy, mainly hydropower.

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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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                Eritrea

                Less than half of the population of Eritrea has access to electricity. Most of the country's electricity generation comes from imported oil.

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                New Zealand

                New Zealand has a diversified energy mix, with significant production of both hydropower and geothermal. As the country embarks on an ambitious energy transition, it has many natural advantages, including a strong renewable resource base. New Zealand already has a low-emissions electricity system, with over 80% of electricity coming from renewable sources. The key challenge will be to decarbonise other end-use sectors through clean power and support investments in new technologies to achieve deeper emissions cuts across all sectors. Notably, the transport sector accounts for the highest share of emissions and is almost entirely dependent on oil while…

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                • Country

                Mozambique

                In Mozambique, around 40% of people have access to electricity, through the grid or mini/off-grid systems. The government has promoted solar PV solutions in rural areas, reporting that 700 schools and 800 other public buildings now have electricity from solar.

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                • Country

                Canada

                Canada has set an ambitious target to cut greenhouse gas emissions by 40-45% from 2005 levels by 2030 and to reach net zero emissions by 2050. Canada’s energy and economic profile presents both challenges and opportunities to achieving these targets given its profile as a major producer, consumer and exporter of energy. Energy production and use in Canada accounts for over 80% of the country’s GHG emissions, with oil and gas production alone accounting for around a quarter. Canada’s electricity system is already among the cleanest in the world, with heavy dominance of hydropower as well…

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                • + 5 pages

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                • Country

                Japan

                Japan’s energy policy is guided by principles of energy security, economic efficiency, environmental sustainability and safety. Achieving the aim of carbon-neutrality by 2050 will require substantially accelerating the deployment of low-carbon technologies by 2030, to address regulatory and institutional barriers and further enhance competition in energy markets. It will also be important to develop different decarbonisation scenarios and to prepare for the possibility that certain low-carbon technologies, such as nuclear, might not expand as quickly as hoped. Stronger reliance on market-based instruments, such as carbon pricing, could be one policy option for Japan to cost…

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                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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                • Country

                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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