Coal Demand to Hit Record 8.94 Billion Metric Tonnes in 2026

The International Energy Agency (IEA) predicts that global coal consumption will rise by 1.2% in 2026, reaching a record 8.94 billion metric tonnes. This increase is driven by disruptions in oil and gas trade, particularly due to the closure of the Strait of Hormuz, leading countries like Japan, India, and China to rely more on coal. China's coal usage for chemical production has also surged amid high oil prices. The IEA forecasts a 1% rise in China's coal demand and a 4.2% increase in India's demand, totaling 5 billion tonnes and 1.353 billion tonnes respectively. This trend suggests potential shifts in energy supply dynamics, affecting market stability.

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