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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…
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Southeast Asia Energy Outlook 2026 Energy in Southeast Asia
…supported by industrialisation, urbanisation, rising incomes and expanding mobility needs. This growth has helped underpin economic development and wider access to modern energy, but it has also increased exposure to global fuel markets and added to emissions. The current Middle East crisis has tested Southeast Asia’s energy security and affordability, exposing the limits of short-term responses. The region was heavily exposed to Middle Eastern supply, both through direct crude oil and gas imports and through refined product trade. Governments have responded with measures to curb demand, reduce taxes, stabilise prices and protect vulnerable households and sectors. These interventions…
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Gas Market Report, Q1-2026 Executive summary
…the second half of the year. The Plaquemines LNG plant in Louisiana alone accounted for over 60% of the increase in LNG supply through the year and played a key role in the easing of market conditions.Supply remained relatively tight in the first half of 2025. While global LNG supply increased by 4% (or 10 bcm) year-on-year (y‑o‑y) in the first half of 2025, this was partially offset by lower Russian and Norwegian piped gas deliveries to Europe. In addition, stronger storage injections in the European Union contributed to tighter markets. This kept European and Asian benchmark…
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World Energy Investment 2025 Middle East
…investment by national oil companies in Saudi Arabia and Kuwait to less than 35% in Iraq, signalling different levels of available funding and foreign involvement in resource extraction. In Qatar, domestic investment has ramped up sevenfold since 2015 with the accelerated development of the huge North Field, while foreign investment has quadrupled in the same period. In the United Arab Emirates and Oman, about 40% of upstream investment is consistently drawn from foreign sources. In Iraq, about 70% of upstream investment comes from foreign sources and is increasing with the country set to award 30 new oil and gas projects…
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Gas Market Report, Q2-2025 Executive summary
…combination of initially tight market conditions and heightened macroeconomic uncertainties. The global gas balance remains fragile in an increasingly complex geopolitical context, and dialogue between producers and consumers is important to ensure secure gas supplies. On 24-25 April 2025, the IEA will convene an international Summit on the Future of Energy Security, in partnership with the UK government. The Summit will address traditional and emerging risks related to energy security, including those affecting natural gas and LNG value chains. Europe and North America led demand growth through the 2024/25 winter season while Asian markets slowed Natural gas demand…
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World Energy Outlook 2022 The global energy crisis
…is having major implications for markets, policies and economies worldwide. As so often is the case, the poorest and most vulnerable are likely to suffer most. The strains did not begin with Russia’s invasion of Ukraine, but they have been sharply exacerbated by it. Extraordinarily high prices are sparking a reappraisal of energy policies and priorities. The Europe-Russia energy relationship lies in tatters, calling into question the viability of decades of fossil fuel infrastructure and investment decisions built on this foundation. A profound reorientation of international energy trade is underway, bringing new market risks even as it addresses…
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The State of Energy Innovation 2025 Interactive: Highlights in energy innovation
Interactive: Highlights in energy innovation
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The State of Energy Innovation 2026 Interactive: Highlights in energy innovation
Interactive: Highlights in energy innovation
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Renewables 2021 Biofuels
…By August 2021 biofuel prices had increased by between 70% and 150% across the United States, Europe, Brazil and Indonesia, depending on the market and fuel, from average 2019 prices. For comparison, crude oil prices increased by 40% over the same time period.While overall biofuel demand returns to 2019 levels this year even with slower growth, the recovery is uneven. Ethanol demand remains 4% below 2019 levels in 2021 and does not fully recover until 2023. High ethanol prices in Brazil and lower gasoline demand in the United States relative to 2019 levels are both driving lower ethanol volumes…
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Global Energy Review 2026 Key findings
…and faster efficiency improvements all contributed to slower demand growth.Solar PV, the largest single source of growth, met more than 25% of higher demand, followed by natural gas, which contributed 17%. This was the first time on record that a modern renewable source contributed the largest share of global energy demand growth. Demand for oil, natural gas and coal all grew in 2025, but at a slower rate than in 2024. Low-emissions sources combined – solar, wind, nuclear, hydropower and other renewables – contributed nearly 60% of the growth in global demand.Demand growth in the United States rose to…
- Key findings
- Global trends
- Oil
- Natural gas
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