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The Future of Electricity in the Middle East and North Africa
Electricity demand in the MENA region This study analyses electricity demand in the Middle East and North Africa (MENA) region and its evolution to 2035. MENA has long been a cornerstone of global energy supply. But the region is fast becoming a central character in the story of global energy demand, particularly that of electricity use. Rapid population growth, urbanisation, and rising temperatures are driving up electricity demand. Since 2000, MENA has become one of the top contributors to global electricity demand growth. The region’s climate, characterised by extreme heat and water scarcity, implies that reliable and resilient electricity…
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Gas Market Report, Q3-2025
…uncertainties that could affect this report’s short-term forecasts. The conflict between Israel and Iran highlighted the Middle East’s important role in energy security and served as a stark reminder that geopolitical tensions can easily distort a still-fragile global gas balance. This report includes a special section on the Middle East. Meanwhile, global LNG supply growth is set to accelerate in 2026 to its fastest pace since 2019, primarily driven by additions in the United States, Canada and Qatar. Easing supply fundamentals are expected to support stronger gas demand growth, especially in key Asian import markets.
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Oil Market Report - October 2025
…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 year, but stock builds have so far been concentrated in crude in China and gas liquids in the United States. By September, however, a surge in Middle East production, coinciding with seasonally lower regional crude demand, boosted exports to two and a half-year highs. This, combined with robust flows from…
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Oil Market Report - June 2025
…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. While there was no impact on Iranian oil flows at the time of writing, fears of a widening regional…
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Oil 2025
…and forecast to 2030 Global oil markets have so far had a turbulent 2025. Heightened trade tensions and uncertainty have weighed on the world economy and, by extension, oil demand growth. Combined with the recent OPEC+ decision to accelerate the unwinding of oil production curbs that have been in place for several years, these factors have recently pushed international oil prices to four-year low in April and early May. At the same time, shifts in energy policies are affecting oil producers and consumers alike, with oil supply security remaining high on the international energy policy agenda.Oil 2025 looks…
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Oil Market Report - September 2025
…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 drifted lower in August, with ICE Brent futures falling by about $2/bbl m-o-m to $67/bbl. Geopolitical concerns intensified amid dwindling hopes for a near-term peace deal between Russia and Ukraine. However, the prospect of looming oversupply dampened any positive price impetus, as investor sentiment towards oil remained strongly bearish. Pushed and pulled Oil markets are being pulled in different directions by a range of forces, with the potential for supply…
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Oil Market Report - July 2025
…in June, trading in a wide range between $65/bbl and $80/bbl. Israel’s air strikes on Iranian military and nuclear targets sent prices soaring mid-month, with North Sea Dated briefly surpassing $80/bbl before returning to pre-conflict levels after a ceasefire accord was reached. At the time of writing, Dated was trading just above $72/bbl, down $15/bbl on a year ago.Escalating geopolitical tensions were set against a backdrop of an apparently oversupplied market. In June, global oil production rose by 950 kb/d m-o-m to 105.6 mb/d – a substantia...
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Global Energy Review 2025
…renewables and nuclear power. Gas demand also picked up substantially, while oil and coal consumption increased more slowly than in 2023.CO2 emissions from the energy sector continued to increase in 2024 but at a slower rate than in 2023. A key driver was record-high temperatures: if global weather patterns in 2023 had repeated in 2024, around half of the increase in global emissions would have been avoided. At the same time, the continued rapid adoption of clean energy technologies is limiting emissions growth, according to new analysis – avoiding 2.6 billion tonnes of additional CO2 emissions per year.
- Key findings
- Global trends
- Oil
- Natural gas
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+ 3 pages
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Oil Market Report - March 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 Growth in global oil demand is set to accelerate to just over 1 mb/d this year, from 830 kb/d in 2024, reaching 103.9 mb/d. Asia accounts for almost 60% of gains, led by China where petrochemical feedstocks will provide the entirety of…
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Oil Market Report - December 2025
…below a year ago. Global oil supply growth has been cut by 100 kb/d to 3 mb/d for 2025 and by 20 kb/d for 2026 to 2.4 mb/d, to 106.2 mb/d and 108.6 mb/d, respectively.After weathering significant unplanned refinery outages in November, tightness in refined product markets has eased, but sanctions in 1Q26 will provide fresh challenges. The stark contrast between surging crude supplies and unexpectedly tight product markets has pushed refinery margins back to levels last seen in the aftermath of Russia’s invasion of Ukraine. Runs forecasts for…
