The International Energy Agency is an energy forum comprised of 29 industrialized countries under the Organization for Economic Cooperation and Development (OECD).

What do you need to know?

• The IEA was established in 1974, in the wake of the 1973-1974 oil crisis.
• Provides analysis for all fuels, technologies, and the global energy transition, offering data, analysis, and policy recommendations to its 32 member countries.
• Publishes the annual World Energy Outlook, which gives a forecast on energy trends.
• India is an associate member of the organisation.

 Who can become a member?

• Must be a member country of OECD.
• Nations are required to hold crude oil and/or product reserves (strategic oil reserves) equivalent to 90 days of the previous year’s net imports.

Source: The Indian Express