International Energy Agency
The International Energy Agency (IEA; ) is a Paris-based autonomous intergovernmental organization established in the framework of the Organisation for Economic Co-operation and Development (OECD) in 1974 in the wake of the 1973 oil crisis.
The IEA was initially dedicated to responding to physical disruptions in the supply of oil, as well as serving as an information source on statistics about the international oil market and other energy sectors. The IEA acts as a policy adviser to its member states, but also works with non-member countries, especially China, India, and Russia.
The Agency’s mandate has broadened to focus on the “3Es” of effectual energy policy: energy security, economic development, and environmental protection.
The latter has focused on mitigating climate change. The IEA has a broad role in promoting alternate energy sources (including renewable energy), rational energy policies, and multinational energy technology co-operation. I
EA member countries are required to maintain total oil stock levels equivalent to at least 90 days of the previous year’s net imports.
Connect & Share On Social
