Abstract:

Recent upheavals in the global economy—accelerated globalization, rapid industrialization, the transition to renewable energy, and intensifying climate pressures—have profoundly reshaped energy production, trade patterns, and consumption worldwide. For emerging markets, particularly the BRICS nations, robust economic growth and expanding trade have fueled unprecedented surges in energy demand. The group's 2024 expansion to BRICS+—incorporating countries with diverse economic profiles, resource endowments, and demographic structures—has injected new momentum, fundamentally recalibrating global energy balances.