The International Energy Agency (IEA) was founded by the Organisation for Economic Co-operation and Development (OECD) in 1974 during the oil crisis of 1973 and 1974. The IEA aims to prevent disruptions in the supply of oil, as well as providing statistics about the international oil market and other energy sectors.
The IEA acts as energy policy advisor to 26 member countries to help them maintain access to reliable, affordable and clean energy. While the IEA’s initial role was to co-ordinate measures in times of oil supply emergencies, it’s mandate now covers energy security, economic development and environmental protection.
See also: OECD, OPEC