Global Coal Demand to Hit Record High in 2023

Despite efforts towards net zero, coal consumption expected to remain high; significant expansion in renewable energy could start reducing demand by 2026.

Global demand for coal is expected to hit a record high of 8.5 billion tonnes in 2023, driven by increased usage in China and India.
Despite the worldwide push for net zero, coal consumption is expected to stay above 8 billion tonnes per year for the coming years.
Coal use is expected to drop by about 20 percent this year in both the European Union and the United States.
Global coal demand could start to fall by around 2 percent by 2026 if there is a significant expansion in renewable energy.
Oil demand is predicted to increase from roughly 100 million barrels a day in 2023 to 106 million by 2028.