IEA: Global coal demand set to hit a new high in 2026

Global coal demand is expected to climb another 1.2% on year to notch a record high of 8.94 billion tonnes in 2026 as shipping disruptions in the Strait of Hormuz and a strengthening El Nino pose threats to the global energy supply-demand balance, according to the latest mid-year update report from the International Energy Agency (IEA).

This reverses the IEA's previous forecast of a slight decline in coal demand this year, after demand hit a record of 8.84 billion tonnes in 2025 with a marginal growth of 0.3% on year, per the report. The global energy market has experienced a broad shift toward coal this year,