IEA - Coal Market Update, July 2023

The Coal Market Update report provides an overview of the current state of coal markets, including analysis of coal demand, production, trade, and prices. The report 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.  The report notes that coal is the single largest source of carbon dioxide (CO2) emissions and that global coal consumption has more or less plateaued for a decade. As a result, the key question is when a structural decline in coal demand will begin. The analyses and data in this Coal Market Update inform those looking to answer this question, which has major implications for efforts to reach international energy and climate goals. The report also includes a general annex with acknowledgments, contributors, and credits. It notes that the publication was prepared by the Gas, Coal and Power Markets Division (GCP) of the International Energy Agency (IEA), with essential guidance from the Director of Energy Markets and Security and analysis led and coordinated by Carlos Fernández Alvarez. Other IEA colleagues provided important contributions, and the report was made possible due to the support of the IEA Communication and Digital Office (CDO).