- 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.