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Oil Market Report - May 2026
The May edition of the IEA’s Oil Market Report is exceptionally provided free of charge in an abridged format.For access to the full report, subscribers can visit their Products page.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 forecast to contract by 420 kb/d y-o-y in…
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Ensuring a Skilled Renewable Energy and Energy Efficiency Workforce
This report examines employment trends, skills needs, and skills gaps across renewable energy, grids, and energy efficiency. It highlights the increased demand for skilled workers in these sectors and the need to address skilled labour shortages. The report identifies barriers which are currently hindering energy education and training. It also discusses policy measures aimed at attracting more people to the renewable energy and energy efficiency sectors and providing them with the necessary training. The report includes new IEA analysis on online job postings in renewable energy and energy efficiency, and IEA modelling on energy employment from 2024 as the last…
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Health
Multiple benefits of Energy Efficiency 2025 Energy efficiency provides multiple benefits. This page explores health. Why is energy efficiency important for health? Energy efficiency can improve health by creating healthy indoor and outdoor living environments with comfortable temperatures and humidity levels, and improved air quality. Key facts Energy efficiency measures have been linked to improved health, such as fewer respiratory illnesses.Targeted energy efficiency programmes can reduce doctor and hospital visits and save health costs. In New Zealand, a retrofit programme led to a 43% reduction in hospital admissions for respiratory conditions, while a similar programme in Ireland reduced the…
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Overview graphic: key technology trends for EVs
GEVO 2026 - Chapter 8 Electric vehicles (EVs) are increasingly at the centre of innovation in the automotive sector, bringing advances that extend far beyond developments in batteries and power electronics, thanks to several mutually reinforcing factors. Key technology trends are aligning in favour of EVs Battery electric vehicles (BEVs) are mechanically simpler than internal combustion engine vehicles (ICEVs) or hybrids, making them more compatible with digitalisation and automation. The relative simplicity of electric drivetrains enables shorter development cycles for new vehicles, allowing emerging technologies to reach BEVs sooner than vehicles with other powertrains.While the transition from mechanical to software…
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Financing CCUS at Scale
How to Mobilise Private Capital Carbon capture, utilisation and storage (CCUS) is an important area of attention for governments and financiers as both look to balance policy and investment goals. Recent financial investment decisions of major projects show promise in a sector that is gaining momentum, but its future success depends on viable business models and effective risk allocation across the value chain.In this context, Financing CCUS at Scale is the IEA’s latest report on what it takes to move CCUS projects from the drawing board to operation. Building on expert interviews with leading financial institutions, the report…
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Energy savings
Multiple benefits of Energy Efficiency 2025 Energy efficiency provides multiple benefits. This page explores energy savings. Why is energy efficiency important for energy savings? Energy efficiency measures reduce the amount of energy required to fuel and grow our economies. In economies where energy demand is set to grow significantly, efficiency also helps improve people’s lives by increasing access to additional energy services. Key facts In the last two decades, efficiency measures have generated over 27 EJ of energy savings in IEA countries alone, equivalent to 20% of total energy demand.The industry (including manufacturing) and services (including commercial buildings) sectors…
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Multiple Benefits of Energy Efficiency for Business
Energy efficiency is often described as the “first fuel” because the cheapest and most secure energy is the energy that is not used. For businesses, this begins with a straightforward benefit: lower energy bills. In many cases, efficiency investments can pay back quickly through reduced energy costs alone. However, the value of energy efficiency extends beyond energy savings.This report builds on the IEA’s work on the multiple benefits of energy efficiency and focusses on how these gains materialise in businesses. Key benefits range from productivity and product quality improvements to brand image or health benefits for employees and…
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Jobs
Multiple benefits of Energy Efficiency 2025 Energy efficiency provides multiple benefits. This page explores jobs. Why is energy efficiency important for jobs? Investment in energy efficiency creates jobs in a wide range of occupations and geographic locations. Key facts Around 10 million people work in energy efficiency-related jobs globally, representing nearly 15% of all energy-related jobs. Studies indicate that energy efficiency creates between 4 and 22 jobs per USD 1 million invested, depending on economic structure and energy efficiency measure. By lowering energy spending, energy efficiency also helps foster business growth and competitiveness. Energy efficiency offers a wide array of job opportunities…
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Vehicle software and software-defined vehicles
GEVO 2026 - Chapter 8 The transition from mechanical to software-based vehicle control has been underway for decades and has accelerated dramatically with the rise of EVs. Pure-play EV makers have pioneered the shift towards high-level, continuously updateable software-based vehicle control, speeding up the development and rollout of new features. Vehicles are evolving into software platforms for which users can access subscription‑based premium features, in the same way as for smartphones. A new design paradigm is emerging, with EVs at the forefront The digital transformation of the car industry is most evident in the emergence of software…
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Artificial intelligence and EVs
GEVO 2026 - Chapter 8 Progress in AI and computing power is disproportionately benefiting EVs, particularly for automated driving and integrated vehicle control. Sensors and chips integrate well with the stable, high-voltage power supply of EV batteries. At the same time, the benefits of AI and increased computing power are not exclusive to EVs. AI‑enabled energy management systems are increasingly used to optimise hybrid vehicles, and AI techniques are accelerating the design, testing and optimisation of all vehicles. Advances in AI underpin progress in autonomous vehicles Just two decades ago, state-of-the-art autonomous vehicles were confined to test…