Global demand for coal to rise up to historic high in 2024

16:05 - 18.12.2024


December 18, Fineko/abc.az. Global demand for coal will grow by 1% in 2024 up to a historic high of 8.77 billion tons.

ABC.AZ reports that the IEA predicts this. Coal consumption increased by 7.7% in 2021, recovering from the shock of COVID, by 4.7% in 2022 and by 2.4% in 2023.

The electric power sector has become the main driver of coal demand growth, and coal-fired power generation is expected to reach a historic maximum of 10,700 TWh in 2024.

According to the organization, coal prices today remain 50% above the average level observed between 2017 and 2019. Coal production reached a historic high in 2024.