News in Numbers

The IEA projects that oil demand will reach 113 million barrels per day by 2050, according to its current policies scenario, representing an increase of roughly 13% from 2024 consumption.

198 UN-registered countries attended COP30 and over 80 called for a roadmap phasing out fossil fuels; however, there were zero mentions of fossil fuels in the final text.

In November 2025, the US oil rig count was 407, a decline of 15% compared to November 2024. Across both oil and gas rigs, the count had decreased 6.5%.

The Global Methane Status Report found that the energy sector holds 72% of methane mitigation potential by 2030; the sector is responsible for 38% of global anthropogenic methane emissions.

The US has completed the first offshore lease sale under Trump’s One Big Beautiful Bill Act, generating $279.4m in high bids for 181 blocks in the Gulf of Mexico.