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Oil Market Report - March 2025
…Refining margins recovered in February, as falling crude prices lifted profitability in all regions.Global observed oil stocks fell by 40.5 mb in January, of which 26.1 mb were products. Non‑OECD crude stocks plunged by 45.3 mb, dominated by China where imports declined. Total OECD stocks rose by 11.2 mb, boosted by a 25 mb build in industry crude inventories. Oil on water fell by 6.7 mb. However, preliminary data for February show total global oil stocks rebounded, lifted by an increase in oil on water.Oil prices declined by about $7/bbl in February…
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Stepping Up the Value Chain in Africa
Minerals, materials and manufacturing This report explores key opportunities for African countries to step up the value chain in the growing global market for energy technologies, identifying opportunities beyond a role centred around extraction and mining to one more focused on mineral beneficiation, material production and technology 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…
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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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Designing Energy Efficiency Policies to Enhance Affordability
Examples from G7 countries Energy affordability has emerged as a critical concern in the context of rising global energy prices and growing inequality in energy access. Lower-income households spend a significantly higher share of their income on energy than wealthier households, leaving them exposed to price shocks and especially vulnerable when energy prices increase. Energy efficiency can play a key role in delivering lower energy bills, reducing emissions, and enhancing resilience. However, ensuring that all households benefit requires targeted, inclusive policy design.This issue was a central focus of an IEA workshop held in January 2025 with G7 country…
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Korea 2025
…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 Korea and the IEA. It draws on the IEA’s extensive knowledge and the inputs of expert peers from IEA Member countries to assess Korea’s most…
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Universal Access to Clean Cooking in Africa
…a pathway for all African countries to accelerate efforts by replicating the best historic rates of progress seen in other leading countries globally. This country-by-country analysis builds on the first-ever mapping of clean cooking infrastructure across Africa, as well as an assessment of clean cooking fuel availability and affordability in each region.The report is the latest entry in the IEA’s 25-year history of tracking progress on energy access and promoting clean cooking as a crucial part of the global energy agenda. The tracking in this report will continue to be updated in the future.
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Germany 2025
…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 on the IEA's extensive knowledge and the inputs of expert peers from IEA Member countries to assess Germany’s most…
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Oil Market Report - August 2025
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 Global oil demand is projected to increase by 680 kb/d in 2025 and 700 kb/d in 2026, to reach 104.4 mb/d. Despite weaker-than-expected demand in China, India and Brazil in recent months, annual growth of 600 kb/d in 2Q25…
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Demand and Supply Measures for the Steel and Cement Transition
The case for international co-ordination A massive scale-up of markets for transformative near-zero emissions steel and cement is needed to achieve internationally agreed net zero goals. Yet early movers on both the supply- and demand-side – that is, material producers and consumers – face substantial barriers related to high costs and risks, among other factors. This has led to relatively slow market growth for near-zero emissions materials, at a moment when reinvesting in long-lived high-emissions production could have repercussions for governments to achieve their stated climate goals. Policy makers have the opportunity to play a…
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Affordability
Multiple benefits of Energy Efficiency 2025 Energy efficiency provides multiple benefits. This page explores affordability. Why is energy efficiency important for affordability? Energy efficiency measures can reduce energy bills for households, decrease energy poverty, and make access to energy services more affordable. Key facts Energy efficiency measures can reduce average household energy bills in advanced economies by up to one-third. In emerging economies, they can also improve access to energy services. For many products, such as refrigerators, highly efficient models use less than half of the energy of inefficient models. A best-in-class model can save up to…
