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Oil Market Report - May 2025
…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 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…
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Energy Efficiency 2025
Market Report Energy Efficiency 2025 is the IEA’s primary annual analysis on global energy efficiency developments, showing recent trends in energy intensity and demand, investment, employment and policy. The report provides sector-specific analysis on industry, buildings, appliances and transport and explores system-wide themes such as emissions reductions, energy security, affordability and competitiveness. This report is launched in parallel with an update to the IEA Energy Efficiency Progress Tracker, which can be accessed through the IEA website.
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Coal 2025
…of different trends could shape coal markets 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…
- Executive summary
- Demand
- Supply
- Trade
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The Implications of Oil and Gas Field Decline Rates
…and, by extension, for market balances.The International Energy Agency (IEA) has long examined this issue, and a detailed understanding of decline rates is at the heart of IEA modelling and analysis, underpinning the insights provided by the scenarios in the World Energy Outlook.This new report – based on analysis of the production records of around 15 000 oil and gas fields around the world – explores the implications of accelerating decline rates, growing reliance on unconventional resources, and evolving project development patterns for the global oil and gas supply landscape, for energy security and for investment. It also provides regional insights…
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Global Energy and Climate Model
…publications, including the World Energy Outlook series and Energy Technology Perspectives series.In 2021, the IEA adopted for the first time a new hybrid modelling approach relying on the strengths of both models. The integrated framework of the IEA’s Global Energy and Climate Model (GEC Model) is now the principal tool used to generate detailed sector-by-sector and region-by-region long-term scenarios across IEA publications, including the World Energy Outlook series and Energy Technology Perspectives series.Download the GEC Model Methodology document for an in-depth description of the overall approach and features of the model, and…
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Global Critical Minerals Outlook 2025
…which are essential for a range of energy technologies and for the broader economy, have become a major focus in global policy and trade discussions. Price volatility, supply chain bottlenecks and geopolitical concerns make the regular monitoring of their supply and demand extremely vital.The Global Critical Minerals Outlook 2025 includes a detailed assessment of the latest market and investment trends, along with their implications for critical minerals security. As in last year’s Outlook, it provides a snapshot of recent industry developments from 2024 and early 2025 and offers medium- and long-term projections for the supply and demand of key energy minerals…
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The State of Energy Innovation 2025
A comprehensive assessment of recent progress and emerging challenges in energy technology innovation Global energy innovation is evolving rapidly, shaped by technological advances, increased public and private investment, and a shifting international landscape. This report provides a comprehensive assessment of recent progress and emerging challenges in energy technology innovation, drawing on over 150 innovation highlights and a survey of practitioners across 34 countries. It analyses trends in public and corporate R&D spending, venture capital flows, and technology demonstration efforts, highlighting an increasingly international landscape, with emerging economies making strides alongside traditional leaders. The report documents the increasing focus on…
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Global Hydrogen Review 2025
…significantly since the first publication of the Global Hydrogen Review in 2021. Low-emissions hydrogen production projects have gone from just a handful of demonstrations to more than 200 committed investments for projects that are increasing in number and in scale, reflecting the importance of hydrogen for climate goals, energy security and industrial competitiveness. Nevertheless, growth has not met all of the expectations raised at the start of the decade and remains uneven. Uncertainties about costs, infrastructure readiness and evolving regulatory frameworks all present barriers to faster deployment.This fifth edition of the Global Hydrogen Review takes stock of the…
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What Next for the Global Car Industry
…is moving at different speeds in different markets.At the same time, growth in car sales has shifted to emerging economies including China since the turn of the century, with around half of global sales now in these regions. Production has also grown unevenly in different regions, especially since the pandemic. China’s car output reached a record 27 million in 2024, when it also became the world’s largest car exporter.This IEA Special Report, released as part of the IEA’s Energy Technology Perspectives (ETP) series, aims to provide technology and market insights to assist decision makers in…
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World Energy Outlook 2025
…futures and their implications for energy security, access and emissions. The WEO covers the whole energy system, using a scenario-based approach to highlight the central choices, consequences and contingencies that lie ahead. It includes exploratory scenarios that flow from different assumptions about existing policies, as well as normative pathways that achieve energy and emissions goals in full. The multi-scenario approach illustrates how the course of the energy system might be affected by changing key variables, including the energy policies adopted by governments around the world.This year’s edition comes amid major shifts in global energy policies and markets…
