Can the World Hit 35% Electrification by 2035?

The energy crisis caused by the United States and Israel’s war in Iran could be just what the world needed to achieve 35 percent electrification by 2035. This goal, “35 by ‘35” has emerged as a key platform of the upcoming COP31 United Nations climate conference, to be held in Antalya, Türkiye, from November 9 to 20, 2026. And experts say that a number of factors, including volatile oil and gas markets stemming from the prolonged closure of the Strait of Hormuz, have put that goal within “striking distance.”…

Market Context

Global crude oil markets remain sensitive to a combination of macroeconomic signals, OPEC+ production policy, and geopolitical developments across key producing regions. Brent crude and WTI serve as the primary price benchmarks, with spread movements reflecting regional supply-demand imbalances and refinery demand shifts.

Energy traders and analysts closely monitor inventory data from the U.S. Energy Information Administration (EIA), which releases weekly petroleum status reports that frequently move markets. Rising inventories typically signal demand weakness or oversupply, while draws support price recovery.

What to Watch

Analysts and traders will be watching upcoming EIA inventory reports, OPEC+ output decisions, and macroeconomic indicators — particularly U.S. Federal Reserve policy signals and China demand data — for directional cues on crude prices in the near term.