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The Middle East and Global Energy Markets
…Market Report, published on 17 June, notes that even if the new agreement holds, a full recovery in flows is unlikely to be immediate. Mines will need to be cleared from the main shipping lanes and supply chains will take time to normalise. Saudi Arabia and the United Arab Emirates (UAE) have successfully redirected some exports to terminals loading outside of the Strait of Hormuz. Producers outside the Middle East have also pushed output higher and lifted exports to record levels in response to the crisis. Even so, supply losses stemming from the Middle East disruptions have depleted global oil…
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Fossil Fuel Subsidies
…cases, subsidy estimates represent a combination of opportunity costs and direct expenditures.Estimates using the price gap approach capture only interventions that result in final prices for end users below what would prevail in a competitive market. They do not, for example, capture subsidised research and development, or subsidies for fossil fuel production. These estimates therefore understate total fossil fuel subsidies, as well as their impact on economic efficiency and trade. Despite these limitations, the method is a valuable tool for estimating subsides and for undertaking comparative analysis across economies to support policy development. For net importers of oil, natural…
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Energy Security
…concentration for both crude oil and oil products, a highly uncertain geopolitical outlook, and a plethora of additional risks, such as the growing threat of cyberattacks and the increasing frequency of extreme weather events. One of the IEA’s key tools is an oil stockholding system that requires member countries to hold stocks equivalent to at least 90 days of their net oil imports. IEA members are also obliged to maintain demand restraint programs to rapidly reduce oil consumption during disruptions.The IEA’s oil emergency response mechanisms have proven to be a key stabilising force in global oil markets…
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Investment
…Our analysis is designed to enhance transparency around economic and financing trends, the cost of capital and profit dynamics. We also explore how capital markets and innovative financing instruments can drive greater investment in the energy sector – especially in emerging and developing economies, where data is often limited. Participants representing a diverse range of financial institutions are invited to attend an annual event hosted at the IEA headquarters in Paris, and regional summits – the latest held in Singapore – are also organised to encourage broad participation across geographies. Participants representing a diverse range of financial institutions are invited to attend an…
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Critical Minerals
…with experts on the sidelines of the IEA’s 2026 Ministerial Meeting. Key findings Diversification is the cornerstone of energy security, yet critical minerals are moving in the opposite direction Critical mineral markets have become more concentrated, not less, particularly when it comes to refining and processing. For copper, lithium, nickel, cobalt, graphite and rare earth elements, the average market share of the top three refining nations rose to 86% in 2024 from around 82% in 2020, with almost all supply growth coming from the single top supplier: Indonesia for nickel, and China for all others.
While policy makers have… -
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COP28: Tracking the Energy Outcomes
…at the request of governments, to support the full and timely implementation of the energy promises made in Dubai by identifying pathways forward and providing policy makers with advice on accelerating national and secure clean energy transitions. The IEA's landmark 2024 report, From Taking Stock to Taking Action: How to implement the COP28 energy goals, explores the risks of partial implementation and discusses how countries can integrate the objectives set at COP28 into their next round of targets under the Paris Agreement.The sections below follow the energy targets laid out in Paragraph 28 of the COP28 Global Stocktake…
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Russia's War on Ukraine
…prices have pulled back from record highs, but trends vary widely among regions. In many parts of the world, prices are still elevated – holding back economic growth, straining the finances of households and businesses, and complicating efforts to improve access to electricity. Energy markets, faced with an unusually high degree of geopolitical uncertainty, remain on edge.In Ukraine, the energy sector is on the front line of the war for the second consecutive winter. As temperatures have dropped, Russia has resumed a broad military offensive targeting power plants and other key energy infrastructure across the country, which in 2022 and 2023 caused…
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Climate Change
The IEA and the UNFCCC are building consensus on actions to deliver 1.5 °C-aligned energy transitions; and supporting the next round of Nationally Determined Contributions under the Paris Agreement – while deepening existing cooperation on data and capacity building. The IEA and the UNFCCC are building consensus on actions to deliver 1.5 °C-aligned energy transitions; and supporting the next round of Nationally Determined Contributions under the Paris Agreement – while deepening existing cooperation on data and capacity building. The global energy system is the bedrock of modern economies and societies – providing power to everywhere we live and work…
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Energy and Gender
…roles, such as scientific research (45%) and the manufacturing of electrical equipment (27%). The share of women in senior leadership is growing but lags the economy-wide average The share of women in senior leadership positions has been rising faster than the economy-wide average since 2015. Renewables and nuclear have seen particularly strong progress, while there have only been marginal gains in oil and gas supply, and coal witnessed declines. Women’s share of leadership roles in the energy sector now stands at 18% – up from 13% in 2015, but still below the economy-wide average of 25%. Nearly…
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Net Zero Emissions
An increasing number of countries have been making pledges to reduce their emissions to net zero in the coming decades. To inform these efforts, the IEA released a first-of-its-kind Net Zero Roadmap in 2021, outlining what would be required within the energy sector to achieve this goal at the global level by mid-century. An update to the Roadmap, which has served as an essential benchmark for policy makers, industry, the financial sector and civil society, was published in 2023.The Roadmap is based on the IEA’s Net Zero Emissions (NZE) Scenario, which portrays a pathway for the…