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Oil Market Report - December 2025
The IEA Oil Market Report (OMR) is one of the world's most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for IEA and selected non-IEA countries. Highlights Global oil demand is set to rise by 830 kb/d in 2025 amid an improving macroeconomic and trade outlook. These brighter prospects extend to our 2026 forecast, which we have upgraded by 90 kb/d, to 860 kb/d y-o-y. Gasoil and jet…
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Energy Efficiency 2024 What is required to scale up energy efficiency investments by 2030?
Governments should develop comprehensive investment strategies tailored to their unique circumstances In the NZE Scenario, investment in end uses such as more efficient buildings, transportation and industry triples from around USD 650 billion per year today to about USD 1.9 trillion per year by 2030. The IEA highlights in its Taking Stock to Taking Action report how a comprehensive approach to energy efficiency action is the most effective way to accelerate progress, with an array of available diverse measures tailored to each country’s specific circumstances. In emerging economies, where many people are getting access to new modern accommodation and appliances for…
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The Middle East and Global Energy Markets
The IEA is responding to the energy market impacts of the conflict in the Middle East and continues to closely monitor the latest developments.The disruption to oil and gas flows through the Strait of Hormuz and attacks on energy infrastructure across the region have major implications for energy security and affordability – and for the world economy. The IEA's Executive Director has said the combined impacts amount to "the greatest threat to global energy security in history." The war in the region that began on 28 February has impeded energy trade flows through the Strait, creating the largest supply disruption in…
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China’s Official Energy Finance in Emerging and Developing Economies Case studies
China’s outbound energy engagement spans a wide range of technologies, financing structures and institutional actors. While aggregate trends reveal a system that is becoming more diversified, risk-sensitive and commercially oriented, the specific pathways through which Chinese capital supports energy transitions in EMDE become clearer when examined at the project level.The following case studies illustrate this diversity in practice, from large-scale renewable deployment and grid modernisation to industrial decarbonisation, equity participation in regional infrastructure platforms and upstream resource development. Together, they show how different parts of China’s official financing system interact with local conditions, how technical…
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Energy savings
Multiple benefits of Energy Efficiency 2025 Energy efficiency provides multiple benefits. This page explores energy savings. Why is energy efficiency important for energy savings? Energy efficiency measures reduce the amount of energy required to fuel and grow our economies. In economies where energy demand is set to grow significantly, efficiency also helps improve people’s lives by increasing access to additional energy services. Key facts In the last two decades, efficiency measures have generated over 27 EJ of energy savings in IEA countries alone, equivalent to 20% of total energy demand.The industry (including manufacturing) and services (including commercial buildings) sectors…
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What it would take to unlock the next phase of hydrogen growth
Can hydrogen scale up successfully Global hydrogen demand reached 100 Mt in 2024, mainly from refineries, the production of chemicals and the iron and steel sector. Demand grew by almost 2% from 2023, in line with overall energy demand growth. This consumption was almost completely met with hydrogen produced from unabated fossil fuels, using 290 billion cubic metres of natural gas and 90 million tonnes of coal equivalent. However, alternative technologies that can produce low-emissions hydrogen have attracted a lot of interest from governments given their potential to reduce greenhouse gas emissions and diversify energy supply, particularly in countries that have a…
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Global Energy Review 2025 Natural gas
Natural gas demand returned to structural growth in 2024 Following the supply shock of 2022 and 2023, natural gas markets moved towards a gradual rebalancing and returned to structural growth in 2024. Global gas demand reached a new all-time high, with over three-quarters of growth coming from emerging market and developing economies. Preliminary data indicate that gas demand increased by 2.7%, or 115 billion cubic metres (bcm) (equivalent to around 4 EJ) in 2024. This was above the around 2% annual average growth rate from 2010 to 2019 and well above the rate of around 1% between…
- Key findings
- Global trends
- Oil
- Natural gas
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+ 3 pages
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Renewables in District Energy Regional trends in district heating
Regional trends in district heating
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Ramping up Heat Pumps in Moldova: A Roadmap Executive summary
Moldova’s new National Energy and Climate Plan (NECP) lays out the country’s ambition to improve energy efficiency, reduce fossil fuel demand and decarbonise its economy. Buildings account for more than half of Moldova’s final energy consumption, with three-quarters of that used for space and water heating. Currently, these needs are met chiefly by imported natural gas and domestic biomass – two fuel sources that suffer from availability and sustainability issues. Heat pump technology offers Moldova an effective means of accelerating the transition in building heating. This roadmap discusses the status of Moldova’s heating sector, the potential…
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Global Energy Review 2026 Coal
Global coal demand in 2025 grew moderately, remaining near 2024 levels Global coal demand in 2025 grew modestly above 2024 levels, rising by only 0.4%, an increase of around 30 million tonnes (or 0.7 EJ). This growth, which was in line with IEA estimates, was significantly below the 1.4% increase seen in 2024 and marked the end of the post-Covid rebound, with global coal demand growth slowing each year since 2021.Coal use in power generation diverged from recent trends in several regions around the world. In the United States, strong coal use in the power…
- Key findings
- Global trends
- Oil
- Natural gas
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+ 9 pages
