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The Strait of Hormuz and global LNG supply
How the Middle East conflict is impacting natural gas markets worldwide
An International Energy Agency Newsletter
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Welcome back to Energy Snapshot, the International Energy Agency’s monthly newsletter focused on charts and data. In today’s edition, we look at how the Middle East conflict is affecting global LNG markets.
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The impacts of the Middle East conflict on oil markets https://www.iea.org/reports/oil-market-report-march-2026 have been in focus over the past week…
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Joint Statement on 13 April by the Heads of the International Energy Agency, International Monetary Fund, and World Bank Group
…release this Tuesday, April 14, of the IEA’s monthly Oil Market Report and IMF’s World Economic Outlook. We also discussed the situations of the countries most affected by the shock as well as the responses by our institutions. Our teams are working closely, including at country level, to leverage our respective expertise and help countries through tailored policy advice and, in the case of the IMF and World Bank, financial support where needed.We will continue to monitor closely and assess the impact of the war on energy markets, the global economy and individual countries, and to coordinate…
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The energy implications of events in the Middle East
…The disruption to oil flows through the Strait has forced some operators to start shutting in production. The region’s output of refined products has also been impacted.
Natural gas markets, meanwhile, have gradually rebalanced https://www.iea.org/reports/gas-market-report-q1-2026 in recent years following the major shock that followed Russia’s invasion of Ukraine in February 2022. A wave of new LNG capacity https://www.iea.org/data-and-statistics/data-tools/global-lng-capacity-tracker between now and the end of this decade is expected to transform market dynamics. But markets remained tight in…
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History of the IEA Mission
From oil security to steering the world toward secure and sustainable energy transitions At the heart of the global dialogue on energy security and clean energy transitions, the International Energy Agency is the world’s leading energy authority. We provide reliable and comprehensive data, analysis, and policy recommendations with the goal of shaping a secure, sustainable and affordable energy future for all while meeting the climate change objectives of the 2015 Paris Agreement.The IEA...
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The Implications of Oil and Gas Field Decline Rates
…uncertainties affecting the future evolution of oil and natural gas demand, with less consideration given to how the supply picture could develop. However, understanding decline rates – the annual rate at which production declines from existing oil and gas fields – is crucial for assessing the outlook for oil and gas supply and, by extension, for market balances.The International Energy Agency (IEA) has long examined this issue, and a detailed understanding of decline rates is at the heart of IEA modelling and analysis, underpinning the insights provided by the scenarios in the World Energy Outlook.This new report – based on analysis of…
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Advancing Methane Emissions Reductions by National Oil Companies
…in supporting policy objectives. In over 30 countries where NOCs are responsible for more than half of oil and gas production, methane is already included in the scope of their Nationally Determined Contributions (NDCs).Implementing best practices. This includes adopting measures to limit flaring and venting, implementing leak detection and repair programmes, and deploying low-emissions equipment. Many of these mitigation options do not require measured emissions data or large investments. Flaring reductions by NOCs could make 60 billion cubic metres of natural gas available for domestic consumption or for export.Develop a methane monitoring, reporting, and verification system based…
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Global EV Outlook 2026
…in major and emerging markets. It also considers the implications of growing EV adoption for electricity and oil consumption, as well as greenhouse gas emissions.Amid the ongoing energy crisis sparked by the conflict in the Middle East, this edition includes early monthly data for 2026 and considers potential implications of the crisis for policy and market development. It also includes analysis of the affordability of electric cars and the manufacturing and trade of electric cars, trucks and their batteries, along with a special chapter on automotive technology trends related to software and artificial intelligence.The report is complemented by…
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World Energy Outlook 2025
…including the energy policies adopted by governments around the world.This year’s edition comes amid major shifts in global energy policies and markets, and acute geopolitical strains. Governments are reaching different conclusions about the best ways to tackle concerns about energy security, affordability and sustainability. As always, the World Energy Outlook provides unrivalled insights into the consequences of different energy policy and investment choices. An important theme in this year’s WEO is security of supply of critical minerals.
This episode of IEA's Everything Energy podcast walks through the key findings of the report with its lead authors…
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Gas Market Report, Q2-2026
…spotlight on the effects of the war in the Middle East on international gas markets. Amid the major supply shock caused by the disruptions to shipping through the Strait of Hormuz and attacks on regional energy infrastructure, it examines the conflict’s implications for gas supply and demand at both the regional and global levels. The report also analyses the consequences for storage, shipping and prices – providing critical insights on evolving market trends.The loss of nearly 20% of global liquefied natural gas (LNG) supply due to the effective closure of the strait is distorting short-term gas market fundamentals…
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Gas Market Report, Q3-2025
This quarterly Gas Market Report provides a short-term outlook for natural gas supply, demand, trade and more in 2025 and 2026. It finds that following a strong expansion in 2024, global gas demand rose at a much slower rate in the first half of 2025. Macroeconomic uncertainty, together with tight supply fundamentals and relatively high prices, weighed on natural gas consumption, particularly in price-sensitive markets in Asia. Both China and India recorded demand declines in the first half of 2025 compared with the same period in 2024. Europe’s liquefied natural gas (LNG) imports are expected to reach…
