Eni’s World Energy Review 2026, based on 2025 data, finds rising oil and gas production, modest growth in proved oil reserves and sharply higher lithium output.
Global oil production rose by 3.1 million barrels per day to 100.4 million b/d in 2025, while demand increased by 0.9 million b/d to 104.3 million b/d. Proved oil reserves reached more than 1.79 trillion barrels, up 0.4% year on year. Because production grew faster than reserves, the global reserves-to-production ratio fell from 50.2 to 48.9 years.
Natural gas production increased by 0.9% to 4,168 billion cubic metres (bcm), while consumption rose 1.2% to around 4,200 bcm. Proved gas reserves grew 1.3% to 207,477 bcm. LNG infrastructure continued to expand: global liquefaction capacity rose 6% to around 700 bcm, and regasification capacity increased 5% to around 1,600 bcm. The United States recorded the largest addition to liquefaction capacity and remained the leading gas exporter.
The review also highlights the growing geological importance of critical minerals. Global lithium production surged 29% to 288,380 tonnes, while graphite production grew 13%. Supply remains concentrated in a small number of countries, creating security risks across mineral value chains.
For subsurface professionals, the figures point to continued demand for oil and gas resource development alongside growing mineral supply needs. The report also notes that production quality is shifting, with Brazil’s expanding pre-salt output contributing to a larger share of medium-sweet crude.
Read the full World Energy Review 2026 for country-by-country data on reserves, production, trade and critical minerals.
