International Energy Agency
About IEA
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- The International Energy Agency is an autonomous intergovernmental organization established by the member countries of the Organisation for Economic Co-operation and Development (OECD) in 1974.
- OECD is a group of 38 member countries that discuss and develop economic and social policy.
- OECD members are typically democratic countries that support free-market economies. India is not a member of OECD.
The IEA was created in response to the 1973-1974 oil crisis when an oil embargo by major producers pushed prices to historic levels, and exposed the vulnerability of industrialised countries to dependency on oil imports. |
- The IEA works to ensure reliable, affordable and clean energy for its member countries and beyond.
- Its main areas of focus are energy security, economic development, environmental awareness and engagement worldwide.
- The IEA is made up of 31 member countries.
- Before becoming a member country of the IEA, a candidate country must meet several criteria.
- For eg: It must have crude oil or product reserves equivalent to 90 days of the previous year’s net imports.
- It must have in place a demand restraint program to reduce national oil consumption by up to 10 per cent.
- Legislation and measures to ensure that all oil companies under its jurisdiction report information upon request.
- India became an Associate Member in 2017.
IEA is headquartered in Paris, France.
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