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Oil Market Report - March 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 The war in the Middle East is creating the largest supply disruption in the history of the global oil market. With crude and oil product flows through the Strait of Hormuz plunging from around 20 mb/d before the war to a trickle currently, limited capacity…
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What it would take to unlock the next phase of hydrogen growth
…still a nascent sector. When the IEA published its Global Hydrogen Review 2022, governments had adopted targets that cumulatively accounted for 190 GW of electrolysis capacity by 2030 – even though less than 0.7 GW was operational at the end of 2022 and, according to the latest data available, global capacity was on track to barely surpass 4 GW in 2025.To be sure, setting ambitious goals has proved useful in attracting corporate activity. But there are barriers for new products entering the market, such as high costs for first movers and a lack of adequate regulation and infrastructure. The adoption of…
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Heating
…in China, the world’s largest heat pump market, sales remained stable.
Heat pumps are a proven way to provide secure and sustainable heating
Heat pumps, powered by low-emissions electricity, are the central technology in the global transition to secure and sustainable heating. The Future of Heat Pumps, a special report in the IEA’s World Energy Outlook series, provides an outlook for heat pumps, identifying key opportunities to accelerate their deployment. It also highlights the major barriers and policy solutions, and explores the implications of an accelerated uptake of heat pumps for energy security, consumers’ energy bills, employment…
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Heat Pumps
…the central technology in the global transition to secure and sustainable heating. The Future of Heat Pumps, a special report in the IEA’s World Energy Outlook series, provides an outlook for heat pumps, identifying key opportunities to accelerate their deployment. It also highlights the major barriers and policy solutions, and explores the implications of an accelerated uptake of heat pumps for energy security, consumers’ energy bills, employment and efforts to tackle climate change.
Around 10% of space heating needs globally were met by heat pumps in 2021, but the pace of installation is growing rapidly with sales at record…
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7 certainties about energy for this age of uncertainty
ED commentary The energy sector, like many others, is contending with a blizzard of uncertainties, complicating the work of policymakers, business leaders and investors.Geopolitical twists and turns are straining long-established relationships and upending deeply held assumptions. The World Uncertainty Index, devised by economists from the IMF and Stanford University, has hit unprecedented levels in recent months.But in this time of flux, there are still some important trends that we can identify with some confidence. Here are seven that can help us keep our bearings: The world has entered the age of electricity Oil and gas will still…
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Coal
…of the world’s coal use remain stable.
Global coal demand increased to a new all-time high in 2024 of around 8.8 billion tonnes, up 1.5% from 2023, as rising consumption in China, India, Indonesia and other emerging economies more than offset declines in advanced economies in Europe, North America and northeast Asia. However, several of those trends reversed in the first half of 2025 as demand declined in China and India; by contrast, coal use grew by around 10% in the United States. Even so, global coal demand is still set to increase slightly in 2025…
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Energy Efficiency
…pivotal moment. Many governments around the world are focused on stronger action on energy efficiency as a key policy priority in order to ensure energy security and affordability while reducing emissions. However, IEA analysis has shown that despite this increased ambition, global progress on energy efficiency is slower than in the last decade. This is locking in greater levels of wasted energy, as well as higher costs and emissions.
Global progress on energy efficiency picks up in 2025
Global primary energy intensity – the main metric for tracking efficiency progress – is on course to improve by 1.8% in 2025, up…
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An Energy Sector Roadmap to Net Zero Emissions in Colombia
World Energy Outlook Special Report Colombia has set an ambitious goal to achieve net zero greenhouse gas emissions by 2050. The third-largest country in Latin America and the Caribbean by population, it has seen stable economic and population growth over past decades. A large part of its energy mix is made up of fossil fuels, largely oil, while hydropower provides most electricity. Colombia has abundant untapped solar and wind resources and a strong base of clean energy potential.At the request of the Government of Colombia, the IEA has developed a roadmap to net zero by 2050 for the…
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Chile 2050 Energy Transition Roadmap
World Energy Outlook Special report Chile has made significant strides in its energy transition, towards its ambitious long-term goals and it stands at a pivotal moment in its energy journey, possessing remarkable renewable and critical mineral resources. The Chile 2050 Energy Transition Roadmap, produced at the request of the Government of Chile, and in close collaboration with the Chilean Ministry of Energy, sets out a detailed pathway for the country to reach its legally binding goal of net zero emissions by 2050 while expanding economic growth and improving energy security and affordability. This pathway relies on four pillars: accelerating…
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Global Energy and Climate Model
…publications, including the World Energy Outlook series and Energy Technology Perspectives series.In 2021, the IEA adopted for the first time a new hybrid modelling approach relying on the strengths of both models. The integrated framework of the IEA’s Global Energy and Climate Model (GEC Model) is now the principal tool used to generate detailed sector-by-sector and region-by-region long-term scenarios across IEA publications, including the World Energy Outlook series and Energy Technology Perspectives series.Download the GEC Model Methodology document for an in-depth description of the overall approach and features of the model, and…
