Eni presents the first module of its annual statistical review
London, July 24, 2025 , (Oilandgaspress) –––The 24th edition of the World Energy Review (WER) is now available – our annual statistical report that tracks the evolution of the global energy landscape.
This release (Module I) provides an initial update with the latest available data and insights into oil, gas, renewables (solar PV and wind), and critical minerals.
The next release (Module II), scheduled for October, will include a comprehensive version with additional updates and cross-cutting topics, such as the global energy mix, CO2 emissions, population, GDP, coal, and a dedicated focus on power generation.
By integrating these diverse variables, the WER aims to offer a more complete and interconnected view of the complex dynamics shaping the global energy system. Early evidence suggests that, also in 2024, the global energy market underwent significant changes against a backdrop marked by international tensions, complex market dynamics, and the urgent need to ensure energy security while addressing climate change.
Global oil consumption (102,8 Mb/d in 2024) has been steadily increasing (+0,8 Mb/d vs. 2023), surpassing pre-pandemic levels, with non-OECD countries playing a central role. Notably, China, India, Latin America, and the Middle East combined accounted for over 60% of the global increase. At the same time, global oil production (97,3 Mb/d) also rose (+0,5 Mb/d vs. 2023), primarily driven by non-OPEC countries, especially the United States. Market expectations, influenced by sentiments around new supply related to an economic slowdown and the rebound in OPEC+ production, significantly shaped Brent price trends.
After a start to the year that hinted at signs of stabilization, global gas markets entered a new phase of uncertainty in the second half of the year. Factors related to both supply and demand contributed to destabilizing the outlook. Nevertheless, consumption and production increased, particularly in the Asian region, with prices at major international hubs declining by an average of 14%.
Installations of intermittent renewable sources (solar photovoltaic and wind) continued to grow at a strong pace, reaching a new global record with approximately 560 GW of additional installed capacity compared to the previous year, also concentrated in the Asian region. Despite this record level of new renewable installations in 2024, the current growth rate is still insufficient to meet the COP28 goal of tripling, compared to 2022, global installed renewable energy capacity by 2030, reaching a level of around 11 TW.
Global overall production of critical minerals also increased at an average rate of over 5%, confirming their fundamental role in the development of the energy economy.
Finally, total CO2 emissions from the energy sector also increased (+0.8%), reaching a new high of approximately 38 Gt. This increase was driven by growth in emerging markets and developing economies, which more than offset the reductions recorded in advanced economies.
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