Global coal demand set to remain at record levels in 2023 - IEA
Coal markets, like those for oil and natural gas, have experienced a turbulent three years as a result of the pandemic and Russia’s invasion of Ukraine, which triggered the first truly global energy crisis. In 2023, coal markets have so far been less volatile, though more turmoil could lie ahead. This Coal Market Update – which provides the latest analysis of coal demand, production, trade and prices – finds that coal demand and supply reached an all-time high in 2022, confirming previous forecasts. It also provides preliminary estimates for the first half of 2023 and outlooks for full-year 2023 and 2024, based on recent trends and forecasts for economic growth across regions, as well as fuel and forward curves.
Related Knowledge Center: ENERGY BASICS: coal
The use of coal, a staple of heating and electricity-generation for decades, is in decline in the United States — supplanted by newly abundant production of natural gas — but is still dominant in some parts of the world. While economical, coal use is particularly problematic as international attention focuses increasingly on climate change.