Coal demand to continue growing until 2026: report

Coal consumption will rise for the fourth consecutive year due to energy security.

A report from Economist Intelligence found that coal consumption will continue to increase until 2026 when it peaks globally.

According to the report, the demand is driven by energy security. Coal demand was witnessed in Europe except in Russia when gas supplies suddenly slumped, will proved short-lived.

Meanwhile, gas will be the most subdued from fossil fuels which is attributed to high prices pulling down demand in Europe and North America. 

“We do not expect gas demand in Europe to return to levels seen before Russia’s invasion of Ukraine during our 2023-32 forecast period,” read the report.

But gas consumption in “Asia and in the Middle East will grow rapidly, driven mainly by strong
demand from the power generation sector.”

Despite oil price hikes, oil demand will expand by 1.7% year on year in 2024, mainly driven by Asia, Latin America and the Middle East.