Global Coal Demand to Decline by 2026

On 15th December, 2023, the ‘Coal 2023’ Report was released by the International Energy Agency (IEA). It predicts a decline in global coal demand by 2026, despite achieving a record-high production level this year.

Highlights of Report

  • The report sees 1.4% increase in global coal demand in 2023, exceeding 8.5 billion tonnes for the first time.
  • Regional variations are notable, with the European Union and the United States anticipating a 20% decline in demand, while India and China expect an 8% and 5% rise, respectively, due to electricity demand and reduced hydropower generation.
  • The decline in coal demand is attributed to a ....
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