The International Energy Agency (IEA) is an autonomous intergovernmental organization established in the framework of the Organisation for Economic Co-operation and Development (OECD). It was created on November 18, 1974, in the wake of the 1973-1974 oil crisis to help industrialized countries coordinate a collective response to major oil supply disruptions. The IEA's initial problem was ensuring reliable energy supplies for its members.
The core mechanism of the IEA is its collective security coordination for oil, which requires member countries to maintain emergency oil reserves equivalent to 90 days of net oil imports. In a crisis, the IEA coordinates the release of these stocks to stabilize global markets. Beyond this, the IEA acts as a policy advisor, providing authoritative analysis and data on the global energy sector, with its mandate focusing on the "3Es": energy security, economic development, and environmental protection.
The IEA connects to a broader global energy dialogue, collaborating with the Organization of the Petroleum Exporting Countries (OPEC) within the International Energy Forum (IEF) and advising the United Nations Framework Convention on Climate Change (UNFCCC) Conference of Parties (COP). Its mandate has significantly expanded beyond oil security to include natural gas, electricity, and clean energy transitions. A key recent change was the creation of the Association status in 2015 to increase engagement with major emerging economies. India officially declared its Association status with the IEA on March 30, 2017, allowing it to participate in the IEA's work and policy discussions. The IEA's focus has also shifted toward climate change mitigation, notably with its 2021 report, Net Zero by 2050: A Roadmap for the Global Energy Sector, which called for an end to new oil and gas projects.