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IEA Forecasts Record 8.94Bt Coal Demand in 2026

By Stocks Desk · · Updated 2026-09-20 20:27 UTC
A large pile of coal next to a shipping container
Illustration: Tradingbird

Strait of Hormuz disruptions have forced a global pivot from gas to coal, driving 2026 demand to a record 8.94 billion metric tonnes. This shift is compounded by China's increased coal use for chemicals and potential weather-related power deficits in Asia, despite long-term global commitments to phase down coal consumption.

  • According to a Yahoo Finance report, the IEA notes that China is also expanding coal usage for chemical production amid high oil prices, while a potential strong El Niño could further strain Asian power grids by reducing hydropower output. The agency projects global coal demand will hit a record 8.94 billion metric tonnes in 2026, with consumption in India expected to surge by 4.2%.

    Source: Yahoo Finance

  • Strait of Hormuz disruptions drive gas prices up, forcing a global shift to coal and pushing 2026 demand to record levels.

    Source: oilprice.com
Based on reporting by oilprice.com and Yahoo Finance, compiled by the Tradingbird desk.

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