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Oil Market Report - October 2025
…while oil on water dropped 8 mb. Preliminary data for September show sharply higher oil stocks, led by a 102 mb build in oil on water.In calm trading, benchmark crude prices were little changed in September, as a looming supply surplus dampened the bullish impact of heightened Ukraine tensions and fresh sanctions against Russia and Iran. Price volatility continued to languish at historical lows. At the time of writing, ICE Brent futures were trading at around $64/bbl – down approximately $11/bbl year-to-date. Stocking up The oil market has been in surplus since the start of the…
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Lithuania 2025
Energy Policy Review Government action plays a pivotal role in ensuring secure and sustainable energy transitions. Energy policy is critical not just for the energy sector but also for meeting environmental, economic and social goals. Governments need to respond to their country’s specific needs, adapt to regional contexts and help address global challenges. In this context, the International Energy Agency (IEA) conducts Energy Policy Reviews to support governments in developing more impactful energy and climate policies.This Energy Policy Review was prepared in partnership between the Government of Lithuania and the IEA. It draws on the IEA’s extensive…
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Sustainable Transport Policy for Armenia: A Roadmap
As a part of the EU4Energy Programme, the Armenia Energy Policy Roadmap on Sustainable Transport presents a comprehensive, evidence-based framework for transforming the country’s mobility system into a sustainable and efficient transport system. The strategy seeks to deliver significant reductions in CO₂ emissions while strengthening regional connectivity, fostering economic development, and enhancing energy security. While Armenia has made notable progress in rolling out electric vehicles and electrifying its rail network, it still struggles with a high dependence on imported fossil fuels, a lack of data transparency and weak co-ordination among government agencies. This roadmap is structured to…
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Gas Market Report, Q3-2025
…weighed on natural gas consumption, particularly in price-sensitive markets in Asia. Both China and India recorded demand declines in the first half of 2025 compared with the same period in 2024. Europe’s liquefied natural gas (LNG) imports are expected to reach an all-time high in 2025, supported by stronger storage injections, higher domestic demand and lower piped gas supplies from Russia. In contrast, China’s LNG imports are forecast to fall amid weaker natural gas demand and strong competition from Europe for flexible LNG cargoes. Geopolitical tensions have continued to fuel price volatility, while adding to the…
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Germany 2025
Energy Policy Review Government action plays a pivotal role in ensuring secure and sustainable energy transitions and combatting the climate crisis. Energy policy is critical not just for the energy sector but also for meeting environmental, economic and social goals. Governments need to respond to their country’s specific needs, adapt to regional contexts and help address global challenges. In this context, the International Energy Agency (IEA) conducts Energy Policy Reviews to support governments in developing more impactful energy and climate policies.This Energy Policy Review was prepared in partnership between the Government of Germany and the IEA. It draws…
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IEA Support to Accelerating Renewable Energy Permitting (ARPE)
Between October 2023 and March 2025, the IEA implemented the “Accelerating Renewable Energy Permitting” (ARPE) action. The goal of ARPE was to support five EU Member states – Finland, Ireland, Lithuania, the Netherlands, and the Slovak Republic (Focus countries) – in developing and implementing policy and regulatory measures aimed at reaching their renewable energy targets, notably through accelerating permitting of renewable energy projects.In support of this objective, the IEA organised and facilitated five workshops focused on the following topics:streamlining administrative proceduresaccelerating offshore wind deploymentfacilitating spatial planning for renewable energy deploymentensuring public engagement and acceptance, and afinal workshop summarizing the project…
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Land-Use Competition between Biodiversity and Net Zero Goals
A case study of Canada Meeting global targets for energy, climate, and biodiversity conservation has major implications for land use. To ensure that the tripling of renewable energy capacity by 2030 aligns with the goal of protecting 30% of the planet’s land and water by the same date, robust mechanisms that direct solar and wind projects away from the world’s most biodiverse areas are needed. To address the potential impacts of renewable development on biodiversity, the IEA developed the Renewable Energy and Land-Use Model (REALM), which identifies areas of overlap between renewable projects, critical mineral mining, and…
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Oil Market Report - August 2025
…crude oil prices were largely unchanged in July, with North Sea Dated oscillating around $70/bbl as easing trade tensions and tighter sanctions against Russia were set against the outlook for a comfortably supplied market. By early August, however, prices tumbled by $3/bbl to $67/bbl after OPEC+ announced plans to fully unwind its 2.2 mb/d voluntary output cuts by September. Beneath the calm Oil prices have been caught in the crosshairs of fast-changing market dynamics. While new sanctions on Russia and Iran threaten to impact trade flows, weaker economic growth is poised to temper demand…
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Gas Market Report, Q2-2025
…America. Underground storage facilities and reserve mechanisms provided crucial flexibility to the gas system and ensured stable and secure gas supplies over the 2024/25 heating season. In 2025, global gas demand growth is forecast to slow from the previous year amid tighter market conditions, while heightened macroeconomic uncertainties may also weigh on demand.Low gas storage levels and reduced piped gas exports from Russia to the European Union are expected to keep market fundamentals tight. Supported by higher storage injection needs, Europe’s LNG imports are forecast to increase in 2025 to near their all-time highs. In contrast…
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Gas Market Lessons from the 2022-2023 Energy Crisis
The 2022-2023 energy crisis tested the resilience of the global gas and LNG markets with the most severe gas supply shock in history. During the crisis, natural gas-importing markets around the world felt the pressures of record-high gas prices, including the scale-back in access to energy, the impediment to economic activity and the extra burden on government budgets. Market responses varied but governments were quick to react as the challenges of security of supply became apparent. Post-crisis, markets must continue to adapt as the effects of the crisis continue to influence security of gas supply…
