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Oil Market Report - October 2024
The IEA Oil Market Report (OMR) is one of the world's most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for IEA and selected non-IEA countries. Highlights World oil demand is on track to expand by just shy of 900 kb/d in 2024 and close to 1 mb/d in 2025, marking a sharp slowdown on the roughly 2 mb/d seen over the 2022-2023 post-pandemic period. China underpins the…
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Enhancing China’s ETS for Carbon Neutrality: Introducing Auctioning
Lessons from international experience The pace of emissions reductions of the People’s Republic of China (“China” hereafter) over the coming decades will be an important factor in global common efforts to limit global warming in line with the Paris Agreement. China’s national emissions trading system (ETS) came into operation in July 2021, and is an important policy instrument for achieving its stated climate ambition of peaking CO2 emissions before 2030 and achieving carbon neutrality before 2060. This report, Enhancing China’s ETS for Carbon Neutrality: Introducing Auctioning – Lessons from international experience, responds to the Chinese government’s invitation…
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Meeting Power System Flexibility Needs in China by 2030
A market-based policy toolkit for the 15th Five-Year Plan The People’s Republic of China is deploying record levels of wind and solar PV, challenging the flexibility of its power system. At the same time, China has been making big steps towards implementing markets, and the goals announced in 2020 of carbon dioxide emissions peaking before 2030 and carbon neutrality before 2060 have added momentum to expand their footprint.This report investigates the evolving flexibility requirements of China’s power system as it transitions towards a cleaner energy mix. The analysis aims to present a market-based policy…
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The Future of Heat Pumps in China
Growing demand for heat pumps in China is driving progress towards energy & climate goals Heating is a fundamental service to society that needs to be decarbonised further, and heating choices in China have a major influence on global heating trends. China is responsible for nearly 33% of global heat consumption, with the share of the industrial sector accounting for as much as 40%, and the buildings sector for around 20%. Electrification through heat pumps can provide a key lever for decarbonising heating, and sales have increased in recent years in China, driven by growing demand for space and water heating…
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Clean Energy Transitions Programme 2023
Annual report 2023 The Clean Energy Transitions Programme (CETP) is the IEA’s flagship initiative for accelerating progress toward a global net zero energy system. Launched at the 2017 IEA Ministerial to leverage the Agency’s expertise, insights and influence, the programme has provided world-class analysis, technical assistance and capacity building to support the most ambitious reorientation of the world’s energy systems this century. The CETP’s work is structured across three pillars of activity, with a particular focus on emerging markets and developing economies. The first of these focuses on supporting emerging and developing countries to establish…
