About IEA

• The International Energy Agency (IEA) works with governments and industry to shape a secure and sustainable energy future for all.
• The IEA is at the heart of global dialogue on energy, providing authoritative analysis, data, policy recommendations, and real-world solutions to help countries provide secure and sustainable energy for all.
• The IEA was created in 1974 to help co-ordinate a collective response to major disruptions in the supply of oil. 
• The IEA recommends policies that enhance the reliability, affordability and sustainability of energy. 

Why in News?

• The International Energy Agency has said that global demand of oil will hit a record high this year on the back of a recovery in Chinese consumption.
• Global crude oil prices rose for the fourth straight week amid easing concerns over a banking crisis and the surprise decision by OPEC to further cut output. 

https://newsonair.gov.in/News?title=Oil-rises%2c-logs-weekly-gains-after-IEA-predicts-record-demand&id=459427