International Energy Agency (IEA) annual report on coal demand

Global Coal Demand Hits Record High in 2024, Driven by China and India, IEA Reports Through 2027

Dec 18, 2024, 07:53 AM

The International Energy Agency (IEA) has reported that global coal consumption is expected to reach a record high in 2024, largely driven by strong demand from China and India. The IEA's latest data indicates that coal demand will continue to set fresh records annually through at least 2027, overturning previous expectations that it had peaked in 2023. This surge in coal use comes amid predictions that 2024 will be one of the hottest years on record. The agency noted that while renewable energy sources are growing, they have not yet been sufficient to offset the rising demand for coal, particularly in Asia. The IEA's revised outlook suggests that the anticipated decline in coal demand is premature, as coal remains a critical energy source for many countries, especially in the context of energy security concerns following the post-pandemic rise in gas prices.