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Key Questions on Energy and AI Executive summary
The AI and energy nexus continues to evolve rapidly The largest technology companies are contributing to a surge in data centre investment, as their capital expenditure exceeded USD 400 billion in 2025 – and is expected to jump by another 75% in 2026. Capital expenditure of just five technology companies is now larger than global investment in oil and natural gas production. Many jurisdictions are seeing project pipelines accelerate dramatically, although not all projects will come to fruition. Those that are moving forward are doing so at pace: the IEA’s unique satellite-based tracking shows that “artificial intelligence (AI) factories…
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Oil Market Report - November 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 World oil demand growth rebounded to 920 kb/d in 3Q25, mainly due to stronger deliveries in China. The third-quarter increase was more than double 2Q25’s 430 kb/d y-o-y expansion, as the macroeconomic picture broadly improved on easing trade tensions. Worldwide…
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Ariane Millot
Former Junior Energy Modeller.
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Sustainable Transport Policy for Armenia: A Roadmap Policy recommendations and milestones
As Armenia shifts toward a sustainable transport sector, a clear roadmap with structured policy recommendations and milestones is essential. To be sure, the transition faces challenges ranging from geopolitical risks to resource limitations. However, it also offers significant opportunities to lower CO2 emissions, improve transport accessibility for people and businesses, enhance regional and international connectivity and wean Armenia from its dependence on imported fossil fuels.In the summary below, the recommendations offered in this roadmap have been grouped into three categories to help the government prioritise its actions effectively and ensure a systematic transition toward low-carbon mobility. Each category…
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Scaling Up Transition Finance Financial institutions and transition finance
A complementary source of finance for transitions Transition finance rests on a practical partnership between corporates and financiers. Successful transitions need finance that goes where the emissions are; this means moving beyond the top performers and working with corporates with material environmental footprints that commit to transition strategies. A common alternative strategy, in which financial institutions simply shift emissions off their balance sheets, creates “financial carbon leakage” and does not reduce real-economy emissions.An IEA survey of financial institutions revealed that differences in regional taxonomies and frameworks pose challenges for cross-border financing. At the same time, it highlighted…
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India Bioenergy Market Report Executive summary
Bioenergy is particularly important for India’s rapidly growing energy market. It can strengthen energy security, reduce reliance on imported fossil fuels, create economic development and employment opportunities - especially in rural communities - and contribute to lowering greenhouse gas emissions. These benefits align closely with national energy and climate objectives, enabling India to leverage its domestic resources to support cleaner energy growth. India’s abundant agricultural residues and organic waste provide a strong resource base for modern bioenergy production.India’s ethanol industry has emerged as one of the country’s most successful policy-driven energy stories. Backed by a suite…
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Scaling Up Transition Finance Executive Summary
Successful transitions need finance that goes where the emissions are Actions by the world’s most emissions-intensive sectors, companies, and countries are crucial to placing the world on a sustainable pathway. Yet, investments that could deliver meaningful reductions in their environmental footprint often do not receive sufficient financial support. Currently, finance is drawn heavily to certain “green” assets and activities—most prominently renewable power. While vital, these investments alone cannot deliver all the changes needed to cut global emissions, especially in areas where clean technologies are not yet commercially available or cost competitive. This is where transition finance comes…
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Energy and AI AI and energy security
The nexus between energy and AI has implications for energy security. There are at least two broad dimensions to this relationship. The first arises from the impact of AI on energy security. AI can be – and indeed already is being – applied to address specific challenges relating to energy security concerns. At the same time, greater digitalisation and connectivity in the energy sector – which enable the use of AI – can create new energy security challenges. The second dimension arises from the need to mitigate energy sector-related supply chain risks, which have implications for the scaling up of data centres to meet…
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Sheltering From Oil Shocks Oil use in industry
Industry accounts for around 20% of global oil demand. Two-thirds of industrial oil demand is used as feedstock in the chemicals industry. There are options that can bring down oil demand in industry, and some flexibility on which oil products are used as petrochemical feedstocks. 10. Leverage flexibility with petrochemical feedstocks and implement short-term efficiency and maintenance measures Description: The majority of petrochemical production capacity in Asia and the European Union can technically switch between different oil products – such as LPG, naphtha, ethane or gasoil – as a feedstock without requiring equipment modifications. Prioritising the processing of oil feedstocks…
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Financing Clean Energy in Africa Executive summary
A dramatic increase in energy investment into African countries is essential Multiple recent crises have made it increasingly challenging for many African countries to raise financing to support their clean energy ambitions, despite the continent’s huge needs and rich and varied resources. Africa accounts for around 20% of the world’s population but attracts less than 2% of its spending on clean energy. In recent years, African countries have had to deal with a series of overlapping crises, including the Covid-19 pandemic, the energy and food crises following Russia’s invasion of Ukraine and worsening climate risks. Borrowing…
