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Oil Market Report - January 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 growth is forecast to average 930 kb/d in 2026, up from 850 kb/d in 2025, reflecting a normalisation of economic conditions after last year’s tariff turmoil and lower oil prices than a year ago. A recovery in petrochemical feedstocks demand…
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Financing CCUS at Scale Executive summary
The current wave of investment in carbon capture, utilisation and storage (CCUS) is larger and more geographically diverse than ever before. Momentum in private capital flowing into projects is reflected in the more than 30 final investment decisions (FIDs) that have been reached in the past 2 years alone, particularly in Europe and North America, and in key sectors including transport and storage, industry, and power. Investment has grown more than 15-fold since 2020, reaching over USD 5 billion in 2025. The pipeline of projects currently under construction suggests that after years of incremental capacity additions, operational capture capacity is set…
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Pledges to Progress 2025 Pledges to Progress Company Assessment
The assessment shown below sets out actions reported by 116 oil and gas companies to achieve the goals set out in the Oil and Gas Decarbonisation Charter, agreed at COP28. It is a baseline assessment, in that the evaluations for each metric are based on public company reporting published in 2024, which often rely on data and progress from 2023, i.e. before the OGDC was launched.This is not an assessment of environmental performance. It tracks 25 specific aspects of target-setting, implementation strategies and disclosure, based on a framework put together by the International Energy Agency (IEA), the…
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Unlocking Ukraine’s Hydrogen Opportunity: A Roadmap Policy recommendations for the coming 2-3 years
Prioritise deployment of renewables to boost energy security and create an enabling environment for future hydrogen development Ukraine currently lacks adequate power generation capacity and restoring energy security must be a priority. Any activity focused on accelerating deployment of renewables will have positive spillover effects for hydrogen, by building experience across the workforce and companies and helping to build confidence among potential investors. This will also indirectly reduce the cost of capital by reducing the uncertainties related with renewable electricity generation. Similarly, any efforts related to permitting and administrative processes for renewables can also support the creation of standardised processes…
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What Next for the Global Car Industry Timeline of corporate strategies
This infographic tracks the evolution of corporate strategies for electrification and electric car sales from some of the world’s biggest carmakers and pure-play electric car manufacturers.
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Global Hydrogen Review 2025 Demand
Highlights Global hydrogen demand reached almost 100 Mt in 2024 and is expected to surpass that milestone in 2025. This increase is being driven by demand for industrial products that use hydrogen as a feedstock, rather than being the result of successful implementation of energy and climate policies.Demand is still almost exclusively from established sectors (refining, ammonia, methanol and fossil-based direct reduced iron [DRI]), with demand for new applications (biofuels upgrading, new industrial uses, mobility, power or synthetic fuels) growing but from a very low base – less than 1% of demand.Low-emissions hydrogen use increased by nearly 10…
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Financing Clean Energy in Africa Mobilising capital for a sustainable future
Summary To mobilise the over USD 200 billion needed annually by 2030 under the Sustainable Africa Scenario (SAS), the full range of capital sources need to be deployed. Increasing concessional funding while simultaneously mobilising more private capital must be a priority; in parallel, strengthening domestic financial systems is vital to create sustainable long-term financing options.Despite their importance, the amount of concessional funds is not increasing in Africa. They are also failing to target some of the riskiest areas where they are most necessary, such as early-stage project financing, new technologies, and fragile or conflict-prone countries. It is urgent…
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China’s Official Energy Finance in Emerging and Developing Economies Case 3. Saudi Arabia’s first green full-process heavy plate mill project
Project overview and impact Saudi Arabia is pursuing an ambitious industrial transformation under Vision 2030, including efforts to localise heavy industries, expand low-carbon manufacturing and diversify export capacity. Steel demand is expected to grow steadily due to investment in hydrogen, ammonia, shipbuilding, offshore engineering and large-scale infrastructure. However, the country currently imports nearly all of its heavy plate steel, and domestic production has lagged the needs of an economy shifting towards more capital-intensive sectors and cleaner industrial processes.A new heavy-plate complex developed jointly by China Baowu Steel Group, Saudi Aramco and the Public Investment Fund…
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Global Energy Review 2025 Coal
Global coal demand growth slows Global coal demand grew by 1.2% in 2024 in energy terms, rising by around 67 million tonnes of coal equivalent (Mtce) (or in physical terms by 1.4% or 123 million tonnes). The growth rate has been declining since the strong rebound in 2021 following the end of Covid-19 lockdowns in many countries.The electricity sector continues to drive coal demand, accounting for two-thirds of global consumption. In 2024, global coal power generation grew by nearly 1% to 10 700 TWh, a new high. A key driver was record temperatures, which pushed up electricity demand for…
- Key findings
- Global trends
- Oil
- Natural gas
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World Energy Investment 2025 United States
Energy investment policies in the United States reflect its prioritisation of energy security Energy investment in the United States reflects its prioritisation of energy security, with a subsequent strategic push to establish a presence in emerging value chains and to supply international markets. Since becoming a net energy exporter in 2019, a remarkable turnaround from its high previous reliance on imports, the country has continued to expand its global energy role. In 2024 it was the world’s largest producer of oil and gas (20% of global output), as well as a major investor (25% of total investment). This growth…
