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IEA Revises 2026 Coal Demand Up 1.2% on Gas Price Spikes

By Stocks Desk · 2026-09-10 · Updated 2026-09-11 03:45 UTC
A pile of raw coal chunks on a dark surface
Illustration: Tradingbird

The IEA has revised its 2026 global coal demand forecast upward to 8.94 billion tonnes, driven by Strait of Hormuz disruptions that spike LNG costs and El Niño-related power needs. While coal consumption is expected to rise in Asia and Europe, the US market is projected to see a 7% drop, with the 2027 outlook remaining dependent on the duration of Middle Eastern tensions.

  • New details from the IEA report highlight that El Niño weather patterns are compounding the supply shock by reducing hydropower availability and boosting cooling demand. Additionally, regional disparities are emerging, with South Korea projected to see a 6% increase in coal use, while the US market faces a significant 7% decline despite the global upward revision.

    Source: GN auto stocks/energy-stocks: natural gas demand

  • Global coal consumption is projected to hit 8.94 billion tonnes in 2026, reversing prior decline forecasts as Strait of Hormuz disruptions drive up LNG costs and favor thermal coal generation.

    Source: GN auto stocks/energy-stocks: natural gas demand
Based on reporting by GN auto stocks/energy-stocks: natural gas demand and GN auto stocks/energy-stocks: natural gas demand, compiled by the Tradingbird desk.

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