USD 76.2711

+0.23

EUR 89.4813

-0.52

BRENT 42

+0.34

AI-92 43.38

+0.02

AI-95 47.5

+0.05

AI-98 53.48

+0.01

Diesel 47.38

0

91

International Energy Agency (IEA)

The IEA is an intergovernmental organization founded in 1974 in Paris, initially to help countries collectively respond to oil supply disruptions.

International Energy Agency (IEA)

Founded in response to the 1973/4 oil crisis, the IEA’s initial role was to help countries co-ordinate a collective response to major disruptions in oil supply through the release of emergency oil stocks to the markets.

While this continues to be a key aspect of its work, the IEA has evolved and expanded. It is at the heart of global dialogue on energy, providing authoritative and unbiased research, statistics, analysis and recommendations.

The IEA acts as a policy adviser to its member states, but also works with non-member countries, especially China, India, and Russia. The IEA has a broad role in promoting alternate energy sources (including renewable energy), rational energy policies, and multinational energy technology co-operation.

Today, the IEA’s 4 main areas of focus are:
  • Energy security: Promoting diversity, efficiency and flexibility within all energy sectors
  • Economic development: Ensuring the stable supply of energy to IEA member countries and promoting free markets to foster economic growth and eliminate energy poverty
  • Environmental awareness: Enhancing international knowledge of options for tackling climate change
  • Engagement worldwide: Working closely with non-member countries, especially major producers and consumers, to find solutions to shared energy and environmental concerns

  The IEA is made up of 30 member countries. In addition, thanks to its successful open door policy to emerging countries, the IEA family also includes 8 association countries. 2 countries are seeking accession to full membership, Chile and Lithuania.

On 1 September 2015, Fatih Birol took office as the new Executive Director.