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Oil Market Report - June 2025
…range-bound as trade tensions subsided somewhat after the United States and China agreed a three-month tariff détente. Conversely, plans by OPEC+ to accelerate the unwinding of voluntary output cuts added to the prospect of comfortable 2H25 balances. Geopolitical risk in focus Global oil markets were roiled by a rapid escalation in geopolitical tensions after Israel launched a series of air strikes on targets in Iran on 13 June and Tehran retaliated. The two countries have fought a shadow war for decades, but the current conflict is the most severe, with energy infrastructure also targeted for the first time…
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Oil Market Report - June 2026
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 forecast to decline by 1.1 mb/d y-o-y in 2026. This represents a downgrade of 700 kb/d compared with our May Report, as 2Q26 deliveries plunged by 5 mb/d y-o-y in the face of higher…
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Oil Market Report - February 2026
…and lower margins impacted activity. Crude runs are forecast to increase by an average 790 kb/d to 84.6 mb/d in 2026, led by non-OECD regions, compared with an increase of almost 1 mb/d in 2025. Margins fell further in January, as December’s resurgent runs eased product market tightness.Observed global oil inventories rose by 37 mb in December, taking total 2025 stocks builds to 477 mb, or 1.3 mb/d. Chinese crude oil stocks built by 111 mb last year, while oil on water swelled by 248 mb, of which sanctioned oil accounted…
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Renewables for Industry
…low-temperature heat and steam in industry, coupled with increasing deployment of renewable electricity supply, can deliver multiple benefits. In addition to reducing 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…
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Czechia 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 Czechia and the IEA. It draws on the IEA’s extensive…
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Sustainable Transport for Georgia: A Roadmap
The International Energy Agency (IEA) developed this Sustainable Transport Policy for Georgia roadmap under the European Union-funded five-year EU4Energy programme, which supports evidence-based energy policy and data capabilities in Eastern Partnership countries, including Georgia.The roadmap supports sustainable transport planning at national and city levels, summarising legislation, planning documents, and research on passenger and freight transport. Key metrics include accessibility, safety, convenience, equity, energy efficiency, emissions reduction, congestion and service reliability. Policies and targets are proposed to help Georgia meet the United Nations’ Sustainable Development Goals and achieve its Nationally Determined Contribution (NDC) pledges.The government of…
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Luxembourg 2026
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 Luxembourg and the IEA. It draws on the IEA’s extensive…
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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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The Future of Electricity in the Middle East and North Africa
…region’s climate, characterised by extreme heat and water scarcity, implies that reliable and resilient electricity systems are integral to meeting soaring demand for cooling and water desalination. This outlook provides an unprecedented regional overview of demand patterns for cooling and water desalination including country-level data.How countries across the region meet this increased demand will have profound implications for the region’s economic future but also for global energy markets. This report also explores the challenges and opportunities to sustainably meet electricity demand growth by exploring the potential of both demand and supply side policies and measures. Translation
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Clean Energy Transitions Programme 2024
…and delivered 42 training events to almost 1 200 policy professionals. In Africa, the IEA helped secure USD 2.2 billion in funding through a landmark summit on access to clean cooking, while in Asia and Latin America, it helped countries such as Indonesia and Brazil to advance clean energy policies. In addition to supporting countries at the national level, the CETP contributed to global platforms such as the Conference of the Parties (COP) and the Group of 20 (G20), ensuring that clean energy goals are integrated into international dialogues. The impact of the CETP extends to critical areas like energy efficiency…
