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Oil Market Report - March 2025
…around $70/bbl. Shifting sands Benchmark crude oil prices fell in February and early March as concerns mounted over the outlook for the economy and global oil demand growth amid escalating trade tensions and as OPEC+ announced it would start unwinding production cuts in April. Against this backdrop, discussions started on the potential for an initial ceasefire and an eventual peace deal in Ukraine. ICE Brent futures declined by $11/bbl over the past eight weeks, trading near three-year lows around $70/bbl at the time of writing.The macroeconomic conditions that underpin our oil demand projections deteriorated ove...
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Kosovo
This designation is without prejudice to positions on status, and is in line with United Nations Security Council Resolution 1244/99 and the Opinion of the International Court of Justice on Kosovo’s declaration of independence.
- Overview
- Energy mix
- Emissions
- Electricity
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+ 5 pages
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World Energy Outlook 2022 Key findings
…is not just to diversify away from a single energy commodity, but to change the nature of the energy system itself, and to do so while maintaining the affordable, secure provision of energy services. Key findings The global energy crisis sparked by Russia’s invasion of Ukraine is having far-reaching implications for households, businesses and entire economies, prompting short-term responses from governments as well as a deeper debate about the ways to reduce the risk of future disruptions and promote energy security. This is a global crisis, but Europe is the main theatre in which it is playing…
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Azerbaijan
Azerbaijan has one of the highest energy self-sufficiency ratios in the world as a major crude oil and natural gas producer. While the renewable sector has not seen as much attention, the government is now looking to stimulate investment and accelerate deployment, allowing for diversification of domestic energy consumption. In addition, the government is working on a new energy strategy that will set the stage for further policy shifts. Azerbaijan is part of the EU4Energy Programme, an initiative focused on evidence-based policymaking for the energy sector.
- Overview
- Energy mix
- Emissions
- Electricity
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+ 5 pages
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Croatia
Croatia's National Energy Strategy 2009-2020 has three basic objectives: increase security of energy supply, develop competitive energy system and ensure sustainable energy sector development. These objectives are particularly important for the country, as it is heavily dependent on energy imports, resulting in its vulnerability to energy prices fluctuations.
- Overview
- Energy mix
- Emissions
- Electricity
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+ 5 pages
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Ramping up Heat Pumps in Moldova: A Roadmap
Buildings account for more than half of Moldova’s final energy consumption, with three-quarters of that used for space and water heating. At the same time, Moldova lacks domestic hydrocarbon resources and imports more than 80% of its primary energy. Heat pump technology offers Moldova an effective means of accelerating the transition in building heating.The recent expansion of Moldova’s solar and wind capacity also means that heat pumps can now play a greater role in cutting greenhouse gas emissions and lowering local air pollution. Finally, Moldovan’s 2024 referendum, endorsing the goal of European Union membership, underscores…
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Tajikistan
Hydropower is the main source of energy in Tajikistan, followed by imported oil, gas and coal. However, Tajikistan's energy sector is prone to supply shocks, due to seasonal shortages. Energy policy focuses on providing uninterrupted energy access to all users while improving regional co‑operation and energy sector efficiency, but significant domestic and foreign investment will be necessary for continued energy sector development. Tajikistan is part of the EU4Energy Programme, an initiative focused on evidence-based policymaking for the energy sector.
- Overview
- Energy mix
- Emissions
- Electricity
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+ 5 pages
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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”.
- Overview
- Energy mix
- Emissions
- Electricity
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+ 5 pages
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Oil Market Report - December 2025
…mb/d and 108.6 mb/d, respectively.After weathering significant unplanned refinery outages in November, tightness in refined product markets has eased, but sanctions in 1Q26 will provide fresh challenges. The stark contrast between surging crude supplies and unexpectedly tight product markets has pushed refinery margins back to levels last seen in the aftermath of Russia’s invasion of Ukraine. Runs forecasts for 2026 have been increased to 84.4 mb/d, with growth raised to 750 kb/d.Global observed inventories rose to four-year highs in October, at 8 030 mb. Stock builds averaged 1.2 mb…
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Unlocking Ukraine’s Hydrogen Opportunity: A Roadmap Unlocking the opportunity - A roadmap for action
Highlights Hydrogen represents a long-term opportunity for Ukraine, but action is required in the near term to unlock the full benefits. Work over the first 2-3 years after the war ends can lay the foundations for future market growth without large commitments, such as through studies, planning for regulation and de-risking. In a second stage (5 years) pilot projects would be built to develop experience in the private sector and inform policy. A final stage (10-20 years) would incorporate lessons learnt, with a focus on standardisation, replication and simplification to support large-scale deployment. Each stage…
