Learn more: https://www.iea.org/events/oil-2024

Energy supply security remains a central pillar of the international policy agenda as geopolitical tensions escalate. Wide-ranging sanctions on Russia, emerging new international trade flows in response to tanker disruptions through the critical Red Sea transit corridor, and heightened threats of instability in the broader Middle East are all transforming international oil market activity. At the same time, accelerated and concerted efforts to tackle the climate crisis have never been stronger, with a peak in oil demand now forecast by 2030. This Report explores these challenges and their important implications for the global oil market.