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Global Critical Minerals Outlook 2025 Executive summary
…continued to decline, returning to pre-pandemic levels. Lithium prices, which had surged eightfold during 2021-22, fell by over 80% since 2023. Graphite, cobalt and nickel prices also dropped by 10 to 20% in 2024. Despite strong expectations for future demand growth, investment decisions today face significant market and economic uncertainties. Investment momentum in critical mineral development weakened in 2024, with spending rising by just 5%, down from 14% in 2023. Adjusted for cost inflation, real investment growth was just 2%. Exploration activity plateaued in 2024, marking a pause in the upward trend seen since 2020. While exploration spending…
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Coal Mid-Year Update 2025 Demand
…which remained relatively resilient. For the second half of the year, we expect a modest recovery, and therefore anticipate overall coal demand in China to fall by 0.5% in 2025.Similarly, India experienced a 2.1% year-on-year drop in coal demand for power generation in the first half of the year. This was primarily due to an early onset of the monsoon season and a high baseline of consumption in 2024, which was marked by an intense heatwave. On the other hand, the Indian steel sector showed signs of strength, as overall industrial coal demand was e...
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Coal 2025 Investments in coal projects and emissions abatement
…be interpreted with caution.Some trends observed last year have continued. In Russia producers are advancing infrastructure development in the Far East to support specific coal projects. In Africa there is renewed interest in projects in Mozambique. Australia is progressing with met coal developments, while market conditions have driven the sale of several assets to larger mining firms. In the United States the new administration has adopted a more favourable stance towards coal, introducing measures to promote production and demand, which is expanding the project pipeline.Activity in mergers and acquisitions, which was driven by high coal prices between 2022 and…
- Executive summary
- Demand
- Supply
- Trade
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Global Energy and Climate Model Current Policies Scenario (CPS)
The 2025 edition of the World Energy Outlook (WEO) reintroduces the Current Policies Scenario (CPS). It was a regular feature of the International Energy Agency suite of scenarios until the WEO-2020, when it was discontinued amid turmoil in energy markets and rapid changes in the policy landscape during the Covid-19 pandemic. Now that the world has passed through the pandemic and the global energy crisis triggered at the outset of the Russian invasion of Ukraine, there is merit in revisiting the CPS. The scenario relies only on measures that are formally written into existing legislation and regulation, and…
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Energy Efficiency Policy Toolkit The Energy Efficiency Policy Package
The Energy Efficiency Policy Package
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Sheltering From Oil Shocks Road transport fuels
…while in emerging markets and developing economies, this figure is closer to one-fifth. Working from home affects oil consumption differently across regions, depending on commute distance, car occupancy and average fuel consumption of the car. In most countries the impact is felt mainly on gasoline demand; however, in countries and regions such as Korea, India, and Europe, diesel use is also affected. The effects of working from home also vary by season, largely because of how air conditioning is used in cars. As a result, remote work helps conserve more oil during the warmer months.Impact: Commuting accounts for…
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Pledges to Progress 2025 Executive summary
…s leading oil and gas companies launched the Oil and Gas Decarbonization Charter (OGDC), laying out a series of ambitions to achieve net zero operational emissions by 2050. As global methane and flaring emissions continue to rise, these ambitions are more important than ever to reduce energy waste and mitigate the harmful consequences of climate change.To support accountability and transparency, the International Energy Agency (IEA), the United Nations Environment Programme (UNEP) International Methane Emissions Observatory (IMEO) and the Environmental Defense Fund (EDF) set out a framework of 25 metrics to assess and track the efforts reported by the oil and…
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Pledges to Progress 2025 Summary of results
…down.Companies may opt not to report some of their emissions reduction activities for several reasons, including confidentiality, protection of competitively sensitive information, legal or regulatory restrictions, capacity issues and cultural norms. Further co-operation between government and industry stakeholders is needed to shift the paradigm in transparency.The average score across all assessed companies was 9 points out of a full score potential of 25. Of the 116 assessed companies, 11 companies did not disclose any information about emissions reduction targets and plans or any emissions data and therefore received a score of zero. The 35 assessed national oil companies (NOCs) on average…
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World Energy Outlook 2025 Stated Policies Scenario
…India and other emerging market and developing economies leading demand growth. It increases more slowly than in the past decade as efficiency gains accelerate to 2.2% per year, driven by the increasing electrification of end-uses. Oil demand peaks at 102 million barrels per day (mb/d) around 2030 before gradually declining. Global electric car sales share rises from over 20% today to over 50% by 2035, despite lower electric vehicle (EV) sales in the United States in this Outlook. In 2035, over 840 million EVs displace 10 mb/d of oil, mainly in Asia and Europe. Oil use for petrochemicals…
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Global Methane Tracker 2025 Accelerating industry action
…flagship oil and gas reporting and mitigation initiative of the United Nations Environment Programme (UNEP). Since 2023, around 20 new companies joined OGMP 2.0, bringing coverage to just over 40% of global oil and gas production.OGCI’s Aiming for Zero Methane Emissions Initiative aims to eliminate all methane emissions from the oil and gas sector by 2030. OGCI also facilitates peer-to-peer learning through its role as the secretariat of the OGDC, which includes knowledge-sharing and collaboration programmes to disseminate solutions. With the recent inclusion of PetroChina, the OGDC’s membership now accounts for around 40% of global oil…
