About IEA

• • 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 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.

Why in News?

• The International Energy Agency (IEA) has published the World Energy Outlook 2024 (WEO), an annual flagship report.