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Stepping Up the Value Chain in Africa
…manufacturing. These opportunities would enable Africa to retain a greater share of the economic value generated across energy technology supply chains, and would simultaneously contribute to global efforts to enhance supply chain diversification and resilience.The economic benefits of the new energy economy are currently distributed very unevenly. Emerging markets and developing economies other than China account for less than 5% of the value generated from producing key energy technologies today. In Africa, there are currently only a small number of facilities dedicated to the beneficiation and processing of critical minerals and resources essential for energy technologies and materials, and…
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What Next for the Global Car Industry
…global car industry has operated under relatively stable conditions for decades. The world’s largest car manufacturers are based in the European Union, Korea, Japan and the United States, and – more recently – in China, and the car industry is a major contributor to the economy in these countries. The strength of many of these car makers is built on decades at the forefront of technological innovation around the internal combustion engine (ICE), as well as highly integrated and optimised supply chains that allow for vehicles and their components to be produced at low cost.Over the past 15 years, however…
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Oil Market Report - November 2025
…and refining activity, as well as oil trade for IEA and selected non-IEA countries. Highlights World oil demand growth rebounded to 920 kb/d in 3Q25, mainly due to stronger deliveries in China. The third-quarter increase was more than double 2Q25’s 430 kb/d y-o-y expansion, as the macroeconomic picture broadly improved on easing trade tensions. Worldwide 2025 gains of 790 kb/d y-o-y are led by the United States, China and Nigeria, up by about 120 kb/d y-o-y each. Global growth will maintain this rate in 2026, at 770…
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Coal 2025
…in the years ahead.On the one hand, recent policy changes supporting coal could drive consumption higher, as could surging electricity demand in economies across the world, since two-thirds of global coal use today is for power generation. On the other, the rapid expansion of renewable energy capacity – particularly in China, the world’s biggest coal consumer – has the potential to curb demand. At the same time, the coming wave of liquefied natural gas (LNG) export capacity, which is likely to bring more abundant supplies and lower prices to natural gas markets, could prompt some regions to favour gas…
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- Demand
- Supply
- Trade
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Oil Market Report - February 2026
…IEA countries. Highlights Global oil demand is forecast to rise by 850 kb/d in 2026, up from 770 kb/d last year. As in 2025, non‑OECD economies will account for the entire increase, with China taking the lead on a country level. Petrochemical feedstock products will represent more than half of this year’s gains, compared with only a third in 2025 when transport fuels dominated growth.World oil supply plunged by 1.2 mb/d in January to 106.6 mb/d, as severe winter weather disrupted North American operations, while outages and export constraints curtailed Kazakh, Russian…
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Oil Market Report - May 2025
…with China on 12 May. Russian crude prices averaged $55.64/bbl in April with all major export grades below the $60/bbl price cap. At the time of writing, North Sea Dated was trading at around $66/bbl. In the balance Oil prices resumed their downward trajectory in late April and early May as trade tensions impacted financial and commodity markets and OPEC+ agreed to a further unwinding of production cuts. Bearish sentiment subsequently eased somewhat after the United States reached a trade deal with the United Kingdom on 8 May, and a 90-day accord with China on…
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Oil Market Report - July 2025
…led by OECD commercial product inventories and crude in non-OECD countries. Crude, NGLs and feedstocks were up for the fourth month in a row, by 49.7 mb, in large part due to a sharp rise in China, while oil products increased for the first time this year, by 24.2 mb. Preliminary data for June showed global oil stocks rose further, mainly in oil on water and the non-OECD.North Sea Dated crude increased by $7/bbl m-o-m to an average $71.35/bbl in June after trading in a wide $65-$80/bbl range…
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Oil Market Report - September 2025
…Refining margins remain strong, as a sharp deterioration in diesel cracks was partly offset by better gasoline economics.Observed global oil stocks rose by 26.5 mb in July, extending gains since start of the year to 187 mb. Inventories remained 67 mb below the five-year average, despite a significant surplus built up in China in recent months. OECD industry stocks were up by 6.9 mb, in line with the seasonal trend. According to preliminary data for August, global oil stocks were largely unchanged as lower oil on water was offset by OECD builds.Benchmark crude oil prices…
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Oil Market Report - October 2025
…in August to a four-year high of 7 909 mb, as a 36.2 mb build in products was partly offset by an 18.5 mb decline in global crude, NGLs and feedstocks. OECD total inventories rose by 22 mb, non-OECD by 4 mb, supported by rising Chinese crude inventories, 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…
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Renewables for Industry
…fossil fuel use and associated emissions, it can improve energy security by lowering exposure to volatile gas and oil prices and, when integrated with thermal storage, it can create demand flexibility that helps ensure a higher share of variable renewable generation.This report explores how to expand the role of renewables in the industrial energy mix through electrification of low-temperature heat and steam. It focuses on the European Union, China and the Association of Southeast Asian Nations (ASEAN), examining their techno-economic potential and existing policy environments. Finally, the report proposes priority action areas for accelerating industrial heat electrification.
