Licensed from Adobe Stock

Contributed by Robert Lyman © 2025. Robert Lyman’s bio can be read here.

EXECUTIVE SUMMARY

On June 26, 2025 the Energy Institute published the latest version of the Statistical Review of World Energy. It includes data up to the end of 2024. This article covers the highlights of the review from the perspectives of climate policy and economics.

Global Energy Production and Use 

In 2024 global energy consumption rose 2% from its 2023 level to 592 exajoules. Oil had the largest share (199 exajoules, or 33.6 %), followed by coal (165 exajoules, or 27.9%), and natural gas (149 exajoules, or 25.2 %). Hydrocarbon energy thus provided 86.7% of the world’s energy needs. Nuclear energy provided 31 exajoules (5.2%), hydro-electricity 16 exajoules (2.7%) and “other renewables 33 exajoules (5.6%).

Carbon Dioxide Emissions

Global carbon dioxide equivalent emissions from energy consumption alone totaled 35,491.8 million tonnes. OECD emissions were 11,072 million tonnes CO2eq and Non-OECD emissions were 24,420 million tonnes CO2eq. So, the non-OECD countries produced 68.8% of total emissions, an all-time-high share. China alone produced 11,173 million tonnes CO2eq, or 31.5% of the world’s total. The US produced 13.0%, Europe 9.9%, and Canada 1.5%.

Oil Production 

Global crude oil and condensate production in 2024 totaled 82,788 thousand barrels per day. Of that amount, OPEC countries produced 28,856 thousand barrels per day (35%) and non-OPEC countries produced 53,933 thousand barrels per day (65%). The United States was the largest producer, with 16% of the total. Canada produced 6.2%.

Oil and Natural Gas Liquids Consumption 

Global liquids consumption in 2024 was 104.7 million barrels per day, by far the all-time high. Consumption in the OECD countries was 46.7 million barrels per day while that in the non-OECD countries was 58.0 million barrels per day. Total liquids consumption increased from 93.7 million barrels per day in 2014 to 104.7 million barrels per day in 2024, an increase of 11 million barrels per day, or almost 12%. In other words, liquids consumption grew over the period at an annual average rate of over one million barrels per day, in spite of the significant reduction in demand and economic activity during and after the pandemic.

Natural Gas Consumption 

Global natural gas consumption totaled 4,127.8 billion cubic metres in 2024, an increase of 2.5% over 2023. The OECD countries consumed 1,783.9 billion cubic metres, or 43% of the total, and the non-OECD countries accounted for 2,344 billion cubic metres, or 56.8%.

Coal Production and Consumption

Global coal production grew by 0.8% from 2023 to 2024, reaching 182.23 exajoules. Contrary to the general impression left by media accounts, coal production has increased from 165 exajoules in 2014 to 182 exajoules in 2024. The geographic pattern of coal production is quite different from that of other energy sources. 80.3% of coal production takes place in the Asia-Pacific region, and 52% in China alone.  The geographic concentration of coal consumption is even more pronounced than that of its production; 83.4% occurs in the Asia-Pacific region, and 56% in China.

Electricity 

Global electricity generation grew from 24,073.3 terawatt-hours (TWh) in 2014 to 31,255.9 TWh in 2024, an increase of 7182.6 TWh, or 29.8%. Generation in the OECD countries was 11449.7 TWh in 2024, and 19806.2 TWh in the non-OECD countries. China has by far the highest generation, with 10,086.9 TWh, or 32.3% of the world’s total.

34% of electricity generation is based on coal, 23% on natural gas, 17% on renewables, 14% on hydro, and 9% on nuclear energy.