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World Energy Outlook 2025 Executive summary
…23rd consecutive year. Oil, natural gas and coal consumption, and nuclear output, all reached record highs as well. Driven mainly by China, since 2019 demand for coal has grown 50% faster than the next fastest growing fossil fuel, natural gas, a key reason why energy-related emissions have continued to grow.There is no single storyline about the future of energy, which is why the World Energy Outlook presents multiple scenarios, none of which is a forecast. The framework presented in this Outlook is based on the latest and most comprehensive data on policies, technologies and markets, together with rigorous…
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Global Energy Review 2025 Oil
Oil demand growth loses momentum Growth in global oil demand slowed markedly in 2024, with consumption rising by 0.8% (1.5 EJ or 830 kb/d) to 193 EJ after jumping by 1.9% in 2023. This reflected the end of the post-pandemic mobility rebound, slower industrial growth and the increasing impact of electric vehicles. This 0.8% increase in demand – below the pre-pandemic growth rate of over 1% in the decade to 2019 – was closely in line with the IEA’s first forecast for 2024 set out in June 2023, which noted that structural macroeconomic trends would…
- Key findings
- Global trends
- Oil
- Natural gas
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Gas Market Report, Q2-2026 Executive summary
…the Strait of Hormuz at the beginning of March, which has created unprecedented uncertainty.The crisis has profoundly distorted short-term market fundamentals and is altering the medium-term outlook for natural gas. The loss, for the time being, of almost 20% of global LNG supply has caused strong price volatility, driving up natural gas prices in both Asia and Europe to their highest levels since the 2022/23 energy crisis and prompting an adjustment in natural gas demand. In the Middle East, attacks on the region’s oil and gas infrastructure lowered gas supply availability for domestic markets. Furthermore…
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World Energy Investment 2026 Regional dashboards
Despite the destabilising effect of the Middle East conflict, capital flows to the energy sector are expected to grow to USD 3.4 trillion in 2026, a 5% rise from 2025, mainly from China, the US, and the EU. Clean energy investment grows to USD 2.2 trillion, almost double that of fossil fuels. Investment in clean energy increases year-on-year by 7% in advanced economies and in China, while 4% in other emerging markets, reflecting regional differences with a shared focus on energy security.
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Southeast Asia Energy Outlook 2026 Executive summary
…s population and 4% of its GDP, but nearly 20% of global energy demand growth to 2035 under today’s policy settings. The disruption in global fuel markets has exposed deep structural vulnerabilities linked to import dependence, limited diversification and concentrated supply routes. Before the crisis, around 60% of Southeast Asia’s imports of crude oil and a third of its imports of gas were coming from the Middle East, while 45% of its oil product supply were dependent on Middle Eastern crude. The resulting price shock is already feeding through to higher energy bills, inflation and mounting economic risk…
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Gas 2025 Executive summary
…of natural gas – including in price-sensitive emerging import markets.The analytical framework underpinning the medium-term outlook in this report is structured around a base case, which is complemented by a high case that explores the potential for greater demand response to possible price changes. The base case reflects current project plans, policy settings and economic growth projections, as well as prices informed by the current forward curve. The high case assumes that LNG import prices move closer towards the short-run marginal cost of US LNG supply and unlock additional gas demand, especially in price-sensitive Asian markets…
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World Energy Outlook 2022 Outlook for energy demand
…PV and wind, gain the most ground of any energy source this decade, accounting for 43% of electricity generation worldwide in 2030, up from 28% today. Oil demand rises 0.8% per year to 2030, but peaks soon after at around 103 million barrels per day as electric vehicles (EVs) and efficiency gains undermine its prospects.The tone for accelerated clean energy development this decade in advanced economies is being set by new policy packages and government plans and targets, notably those set out in: Inflation Reduction Act (United States); RePowerEU plan and Fit for 55 package (European Union); Climate Change…
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Gas Market Report, Q3-2025 Executive summary
…year-on-year (y-o-y) in the markets covered in this report. This growth was almost entirely driven by Europe and North America, while natural gas demand remained subdued in Asia and declined in Eurasia.In Europe, natural gas consumption in the first half of 2025 increased by 6.5% y-o-y, primarily supported by the electricity sector amid lower power generation from wind and hydro. While this should not be interpreted as a structural trend, such episodes highlight the key role gas-fired power plants often play in ensuring electricity supply security in markets with higher shares of variable renewables…
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The Implications of Oil and Gas Field Decline Rates Executive summary
…this issue. Decline rates – the annual rate at which production declines from an existing oil or gas field – underpin our analysis of market balances and investment needs across all outlook scenarios.Nearly 90% of annual upstream oil and gas investment since 2019 has been dedicated to offsetting production declines rather than to meet demand growth. Investment in 2025 is set to be around USD 570 billion, and if this persists, modest production growth could continue in the future. But a relatively small drop in upstream investment can mean the difference between oil and gas supply growth and static production. At…
