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Oil Market Report - April 2026
…and analysis from the April OMR Highlights Oil demand is expected to contract by 80 kb/d this year, as the Iran war upends our global outlook. This is 730 kb/d less than in last month’s Report and a forecast 1.5 mb/d 2Q26 decline would be the sharpest since Covid-19 slashed fuel consumption. Initially, the deepest cuts in oil use have come in the Middle East and Asia Pacific, mainly for naphtha, LPG and jet fuel. However, demand destruction will spread as scarcity and higher prices persist.Global oil supply plummeted by 10.1 mb…
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Oil Market Report - May 2025
…deal with the United Kingdom on 8 May, and a 90-day accord with China on 12 May. Nonetheless, increased trade uncertainty is expected to weigh on the world economy and, by extension, oil demand. Brent crude oil futures slumped by $14/bbl in April to a four-year low of just above $60/bbl by early May, before rebounding to around $66/bbl at the time of writing.Signs of a slowdown in global oil demand growth may already be emerging and will be tracked closely. Following a relatively robust 1Q25, latest non-OECD delivery data, especially for Chi...
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Multiple Benefits of Energy Efficiency
As energy efficiency continues to gain attention as a key resource for economic and social development across all economies, understanding its real value is increasingly important. The multiple benefits approach seeks to expand the perspective of energy efficiency beyond the traditional measure of energy savings by identifying and measuring its impacts in full bloom.
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Economic growth
Multiple benefits of Energy Efficiency 2025 Energy efficiency provides multiple benefits. This page explores economic growth. Why is energy efficiency important for economic growth? Energy efficiency allows countries to generate more economic activity using the same amount of energy. It is also linked to increased labour productivity and other economic benefits. Key facts Compared with 2000, today’s global economy produces 36% more GDP per unit of energy. Energy efficiency progress over the last 20 years means that close to an extra USD 50 trillion can today be produced using the same amount of energy. This energy efficiency bonus is equivalent to…
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Energy Efficiency Policy Toolkit
The Energy Efficiency Policy Toolkit is an interactive online tool that has been updated and expanded ahead of the 11th Annual Global Conference on Energy Efficiency in Montreal, Canada. It aims to support governments in designing and implementing effective energy efficiency measures by combining policies across three core pillars: regulation, information and incentives. It also features a wide range of case studies, offering practical insights into the successful implementation of energy efficiency policies across diverse national and sectoral contexts.The Toolkit builds on earlier IEA work to advance energy efficiency policy. In 2022, the IEA introduced Policy Packages for Energy…
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Oil Market Report - January 2026
…North Sea Dated fell by $0.99/bbl m-o-m in December to an average $62.64/bbl, as markets remained well supplied. This was the benchmark’s sixth consecutive monthly decline, with prices hitting a low of $60.07/bbl mid-month – the weakest since early 2021. Buffer zone The new year got off to a turbulent start as geopolitical tensions rose around Iran and Venezuela, bringing new uncertainties regarding their future oil exports. Brent crude oil prices jumped by $6/bbl to around $66/bbl in the early weeks of January before easing to $64/bbl at…
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Oil Market Report - May 2026
…accounts for 930 kb/d and the non-OECD for 1.5 mb/d. The petrochemical and aviation sectors are currently most affected, but higher prices, a weaker economic environment and demand-saving measures will increasingly impact fuel use.Global oil supply declined by a further 1.8 mb/d in April to 95.1 mb/d, taking total losses since February to 12.8 mb/d. Output from Gulf countries affected by the closure of the Strait of Hormuz was 14.4 mb/d below pre-war levels. Higher production and exports from the Atlantic Basin provide some relief…
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Ukraine’s Energy Security
A pre-winter assessment As Ukraine enters its fourth winter of war, ensuring that residents retain reliable access to heat and power is of the utmost importance. While Ukraine made strong strides in rebuilding and strengthening the resilience of its energy system this past spring and summer, the situation remains fragile, and the risk of huge disruptions and widespread destabilisation remains – particularly as Russia expands the scope and sophistication of its attacks.This analysis builds on the IEA’s September 2024 report, Ukraine’s Energy Security and the Coming Winter. It provides an update on the latest developments through October…
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Indicators Handbook for Just and Inclusive Energy Transitions
Global Commission on People-Centred Clean Energy Transitions: Designing for Fairness The Indicators Handbook is based on the voluntary G20 Principles for Just and Inclusive Transitions, endorsed by G20 leaders in November 2024. The principles, which reflect varying perspectives, contexts and experiences, form a framework for approaching transitions that maximises benefits and mitigates the risk of unintended consequences. Designed as a technical resource, the Indicators Handbook provides guidance for governments and other stakeholders on identifying relevant indicators as a first step towards tracking policy design and implementation in line with the G20 Principles for Just and Inclusive Transitions. The Handbook…
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Gas Market Report, Q1-2026
Natural gas markets continued to rebalance in 2025. Global LNG supply returned to double-digit growth in the second half of the year, supported by the ramping-up of new LNG liquefaction projects in the United States, Canada and Africa. This strong growth is gradually easing market fundamentals and contributing to a more secure and resilient global gas market.Global LNG supply growth is set to accelerate further in 2026, fostering a stronger increase in natural gas demand, which is expected to reach a new all-time high. Although the LNG supply growth is reducing market tightness, geopolitical tensions and…
