International Energy Agency

The article highlights the energy economy's significant waste problem, noting that up to half of all energy is lost as heat globally. It emphasizes the potential of untapped waste heat, equivalent to three-quarters of U.S. annual electricity consumption, and discusses how AI-driven data centers are increasing energy demand while legacy systems waste energy on non-compute tasks.

OPEC+ approved an August oil output increase as Hormuz exports recover, with core members raising quotas by nearly 800,000 bpd since April despite earlier disruptions from the US-Israeli war on Iran. The UAE has left OPEC+, and Iraq is pushing for higher quotas.

Nigeria, an OPEC member, has joined the International Energy Agency (IEA), marking the first time an OPEC nation has become an IEA member. This move reflects a shift in global energy power dynamics.

A study by Allianz Trade found data centers emit 315 million tons of CO2 in 2025, 57% higher than International Energy Agency estimates, driven by AI's growing energy demands. Emissions could more than double by 2030 without decarbonization, with the U.S. and China accounting for 70% of global data center emissions.

Sierra Leone granted exploration rights for four offshore oil blocks to Nigeria’s Marginal Energy to boost investor interest in the industry. The move follows agreements with Shell and Eni to explore over 20 oil blocks and aligns with rising investment in sub-Saharan Africa’s upstream oil and gas sector.

Europeans in countries like England, Germany, and Scandinavia are increasingly adopting air conditioners due to rising heatwaves, but face challenges with inefficient units and poorly designed buildings unsuited for high temperatures. Many AC units are purchased hastily during heatwaves and left with gaps that let hot air back in, exacerbating the problem.

A record-breaking heatwave has caused health alerts, infrastructure damage, and event cancellations across Europe, with temperatures exceeding 40°C in several countries. France reported 55 heat-related deaths, while Germany experienced cracked road surfaces and vehicle damage. Authorities in multiple nations issued extreme heat warnings, and schools and festivals were affected.

A heatwave in Europe has driven increased demand for air conditioners, benefiting Asian manufacturers like Samsung Electronics, Midea, and Mitsubishi Electric. Sales in key European markets such as Italy, Spain, and France have seen double-digit growth, with portable units like Midea's PortaSplit selling out in some channels.

UN Secretary-General António Guterres urged AI companies to disclose their carbon pollution, water, and land use through the AI Environmental Transparency Initiative, calling for renewable energy use by 2030 and increased transparency amid growing concerns over AI's environmental impact.

United Nations Secretary-General António Guterres urged AI companies to disclose their carbon pollution, water, and land usage, and commit to renewable energy by 2030. He proposed the AI Environmental Transparency Initiative amid concerns about AI's growing environmental footprint, including data centers contributing to rising greenhouse gas emissions and resource consumption.

United Nations Secretary-General António Guterres urged AI companies to disclose their carbon pollution, water, and land usage, and commit to renewable energy by 2030. He highlighted the growing environmental impact of data centers powering AI, noting their electricity consumption and pollution could double within four years.

High oil prices due to the Iran war and Hormuz Strait disruption have boosted Chinese electric vehicle (EV) exports to developing nations like Southeast Asia, Africa, and Brazil. Chinese EV sales surged in 2026, but charging infrastructure struggles to keep pace, creating a 'chicken-and-egg' challenge for adoption.

UN climate talks in Bonn ended in gridlock, with no agreement on climate-adaptation finance or emissions cuts, while progress was made on a just transition mechanism. A US-Iran deal to halt war and reopen the Strait of Hormuz caused oil prices to drop, and the Trump administration abandoned plans to dismantle a climate-focused ocean monitoring system.

The International Energy Agency warned of a potential oil supply glut, with benchmark crude prices down over 25% from a month ago. The reopening of the Strait of Hormuz could release stranded oil shipments, and the IEA projected a significant overhang next year, though OPEC disputed this assessment.

Former IEA chief Nobuo Tanaka warns the current global energy crisis could mark a 'third oil shock,' reshaping the balance between fossil fuel-dependent 'petrostates' and 'electrostates' focused on electrification. He highlights prolonged supply disruptions and a potential two-year recovery timeline despite the US-Iran deal.

The International Energy Agency (IEA) warns that the oil market could shift from a crisis to a massive surplus next year as Middle Eastern output rebounds, leading to an 8 million barrel per day supply surge that exceeds a modest demand recovery.

A deal between Washington and Tehran to reopen the Strait of Hormuz demonstrated Iran's leverage through its control of oil exports, allowing the country to regain access to global markets and potentially earn $60 billion annually. The agreement, which includes conditions favoring Iran, contrasts with US President Donald Trump's earlier demands for unconditional surrender, highlighting the strategic impact of Iran's energy influence.

Oil prices decline as the International Energy Agency forecasts a supply glut next year following the U.S.-Iran deal. Improved Mideast peace prospects are cited as a contributing factor to the drop in oil prices.

The G7 pledged to reduce dependence on China for rare earth minerals by ensuring no single nation supplies over 60% of imports by 2030, aiming for 50% as soon as possible. China currently accounts for nearly 70% of rare earth production and 95% of permanent magnet production, critical for military technology and energy transition. The G7 cited risks from potential Chinese export controls and the strategic importance of rare earths in defense and green energy.

Renewable energy projects in Africa are stalled due to a financial rule linking project creditworthiness to the sovereign rating of the host country. Only Botswana and Mauritius have investment-grade ratings, limiting funding for clean energy initiatives despite Africa's need for energy autonomy and access.

The U.S. and Iran announced a deal to reopen the Strait of Hormuz, easing long-term oil supply concerns, but energy analysts predict physical crude markets will remain tight until summer 2027 due to infrastructure repairs and shipping risks. S&P Global estimates supply losses will exceed 1.5 billion barrels by June, with full production normalization delayed.

A tentative U.S.-Iran deal to end the war may not immediately lower gas, grocery, and flight prices. Experts note delays due to pre-paid oil contracts, refining processes, and airline fuel agreements, with some regions facing prolonged impacts from disrupted supply chains.

Unsubsidized utility-scale solar is generally cheaper than new fossil fuel power plants, with a 2025 analysis showing a mean levelized cost of energy (LCOE) of $58 per megawatt-hour for solar compared to $79 for natural gas and $128 for coal. The International Energy Agency reports solar is the cheapest new electricity source globally in most regions, though subsidies can further reduce costs.

An International Energy Agency report warns that the Iran war has highlighted Southeast Asia's vulnerability due to its heavy reliance on oil and gas through the Strait of Hormuz, urging faster energy diversification to avoid economic risks. The report emphasizes the region's exposure to shocks from the conflict, calling it a 'stark wake-up call' for energy security.

An IEA report warns that Southeast Asia's overreliance on oil and gas through the Strait of Hormuz has exposed the region to significant energy risks due to the Iran war, potentially tripling energy import costs by 2035. The conflict has accelerated shifts toward electric vehicles, nuclear power, and rooftop solar, though challenges remain in diversifying energy sources and supply routes.

An IEA report warns that Southeast Asia's overreliance on energy through the Strait of Hormuz has exposed the region to significant risks from the Iran war, potentially tripling energy import costs by 2035. The report highlights shifts toward electric vehicles, nuclear power, and solar energy as responses, but stresses urgent diversification of energy sources and supply routes is needed.

A tentative U.S.-Iran deal to end conflict is unlikely to immediately lower gas, grocery, and flight prices due to delayed supply chain adjustments and pre-purchased fuel contracts. Experts warn higher costs will persist for weeks or months as systems adapt to restored oil flows and disrupted logistics.

A tentative deal to end the Iran war may not immediately lower gas, grocery, and flight prices. Experts say supply chain disruptions and pre-purchased fuel contracts will delay price reductions, with some regions facing prolonged higher costs.

The International Energy Agency warns that Southeast Asia's energy sector faces significant risks due to its reliance on oil and gas imports from a limited number of suppliers. The report highlights the need for the region to address vulnerabilities in its power sector.

Private jet operators and officials confirm there was no jet fuel shortage despite initial fears linked to the Strait of Hormuz conflict. Price increases occurred, but fuel remained available globally, with the EU stating no shortage exists and Saudi Arabia increasing exports to Europe.

A tentative deal to end the Iran war may not immediately lower gas, grocery, and flight prices, as experts warn that higher costs will persist due to delayed oil price adjustments, disrupted supply chains, and pre-purchased fuel contracts. Businesses and consumers should prepare for lingering elevated expenses despite the conflict's resolution.

A tentative U.S.-Iran deal may end the war, but experts warn higher gas, grocery, and flight prices will persist due to disrupted supply chains and delayed market adjustments. Oil prices have fallen, but refineries and airlines operate on long-term contracts, slowing consumer relief. Businesses expect elevated costs to linger, impacting global markets.

Experts say higher prices for gas, groceries, and flights will persist even after a tentative Iran war deal due to supply chain disruptions and advance contracts. Oil and fuel price reductions will take weeks or months to reach consumers, with regional and global factors delaying recovery.

African e-bike manufacturer Spiro plans to produce 90% of its components in Africa by early 2027, moving from importing parts. The company has deployed over 100,000 electric motorcycles and 2,500 battery swap stations across seven East and West African countries and raised $215 million to expand into DR Congo and Ethiopia. Electric vehicle sales in Africa grew nearly six-fold between 2023 and 2025, driven by startups and companies like China’s BYD.

Solar power in the US surpassed coal in electricity generation for the first time in May 2026, according to reports by Ember, Solar Energy Industries Association, and Wood Mackenzie. Despite federal policies favoring coal under President Trump, solar remains the leading source of new power, with coal's share declining to its fourth-lowest monthly level.

Solar power surpassed coal as the third-largest electricity source in the U.S. in May, supplying 12.8% of the nation’s electricity compared to coal’s 12.2%. Despite Trump’s efforts to boost coal with $700 million in support, solar and wind energy continue to grow, driven by reports from Ember, the Solar Energy Industries Association, and Wood Mackenzie.

The International Energy Agency's May report warns of a poor outlook for oil markets in the second and third quarters of 2024, with hopes for improvement in the fourth quarter contingent on resolving the US-Iran conflict and reopening the Hormuz Strait. The report suggests oil prices could reach $200 per barrel if a deal is not reached.

Electric vehicles are gaining global traction with 28% of new cars sold this year being battery-powered, despite challenges in the U.S. market, according to the International Energy Agency.

The International Energy Agency warns that global oil stockpiles could reach 'critical levels' by summer, with the energy crisis potentially persisting for months even if a deal ends the US-Israel war on Iran. China's crude reserves, while resilient, are also showing declines in onshore volumes.

India is constructing the world's largest solar park, Khavda, in the Rann of Kutch desert, with a 30 gigawatt capacity. The country's solar capacity is growing at 40% annually, projected to double by 2030, positioning India to become the first major nation to industrialize predominantly using solar energy.