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            • Oil Market Report - June 2026

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                • Energy system

                Oil

                Oil

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                • Energy system

                Bioenergy with Carbon Capture and Storage

                Country and regional highlights
                The United States launches a first-of-its-kind purchasing programme for CDR, while funding support and certification efforts emerge in Europe
                CO2 capture
                Despite increasing awareness around the importance of BECCS for reaching net zero, deployment remains low
                Technology installation and infrastructure
                Lead times for BECCS projects depend heavily on the application and destination of the CO2
                Innovation
                Policy
                Investment
                Investment in BECCS is growing across applications

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                • Country

                Türkiye

                Rapid economic and population growth in Türkiye over the past two decades have not only driven strong growth in energy demand, but also an associated increase in import dependency. As a result, Türkiye has pursued a restructuring of its energy system with the aim of rationalising energy demand growth, lowering energy prices and slowing the pace of import growth.
                These reforms have included measures targeted at modernisation, liberalisation and increased domestic production capacity. Notably, Türkiye has seen considerable diversification of its energy mix in the past decade. Renewable electricity generation has tripled in the past decade and the commissioning of…

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                • + 5 pages

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                • Country

                Pakistan

                In Pakistan, most of the primary energy supply comes from oil and natural gas. Hydropower is the main renewable source of energy in the country but wind and solar PV’s shares are slowly growing. More than 40 million people remain without access to electricity and half the population lack access to clean cooking facilities.

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                • + 5 pages

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                • Commentary

                • 22 Jun 2026

                How global oil supplies have readjusted to help fill the huge gap left by the Strait of Hormuz shock

                …increased optimism that a deal would be reached to enable more regular shipping flows through the Strait. The new agreement last week between the United States and Iran, which aims to reopen the Strait and provide the foundation for a lasting peace, is a crucial breakthrough on this front, with signs of exports already increasing since the deal was agreed.The supply disruptions and price spikes to date have prompted a wide range of responses by oil producers, refiners and consumers to adapt to the radically changed market conditions. Many consumers have scaled back their energy use and governments have…

                • Commentary

                • 21 Apr 2026

                How governments can best support consumers during this energy crisis

                …relief, such as fuel price caps or tax cuts, and through demand-side measures aimed at reducing energy use. Designing these measures well is critical, and international experience offers useful lessons. While easy to deploy, untargeted energy bill support primarily benefits higher-income households and puts pressure on public finances When prices rise sharply, governments often first turn to broad-based price support measures that can provide immediate relief to consumers. This is already happening, with several countries in Asia and Europe temporarily capping fuel prices or reducing energy taxes.However, while untargeted support measures can be implemented relatively quickly…

                • Country

                Greece

                Greece is making progress on its energy transition, including implementing reforms to standardise and simplify licensing procedures for renewable projects and investigating options for offshore wind. Coal fired generation, once the main source of electricity, will be phased out by 2028 at the latest and EUR 5 billion has been committed to assist impacted communities. Auctions are driving strong deployment of solar PV, onshore wind and battery storage. There are also projects for interconnections and renewables to decarbonise electricity on Greek islands. However, more effort is needed boost electrification and improve efficiency in transport and buildings.

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                • ElectricityElectricity
                • + 5 pages

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                • Country

                Romania

                By 2020, the objective of Romania is to guarantee the efficient operation of its energy system under security conditions. Romania also plans to meet the obligations set by EU in terms of greenhouse gas emissions through its legislative package “Climate changes – renewable energies”.

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                • + 5 pages

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                • Energy system

                Appliances and Equipment

                Standards and labelling can lift the average rate of energy efficiency improvement by two to three times
                Based on global evidence from countries with Energy efficiency standards and labelling (EES&L) programmes, the average energy efficiency of new major appliances in these countries can increase two to three times the underlying rate of technology improvement. This can result in average energy reductions of 10-30% over 15 to 20 years in the stock of most regulated products across all countries.
                In leading countries with strong regulations and long-running programmes which are regularly updated, the contribution could be much higher…

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                • Country

                Egypt

                Egypt has initiated a number of energy sector reforms, gradually reducing electricity subsidies and introducing feed-in tariffs to promote renewable energy production. The energy sector reforms recently initiated by the country have resulted in a significant increase in investments which have boosted electricity production over the last 5 years and ensured a stable supply across the country.
                Egypt also has plans to increase the share of renewables in the electricity mix to 42% by 2035.

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                • + 5 pages

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