International Energy Agency - IEA


DEFINITION of 'International Energy Agency - IEA'

An international agency which provides policy advice to 28 member countries. The International Energy Agency (IEA) was founded in 1973-74 during an oil crisis in order to help ensure energy security for member nations. The agency's primary mandate is to focus on the policies regarding the "three Es": energy security, economic development and environmental protection.

BREAKING DOWN 'International Energy Agency - IEA'

An example of one of the IEA's successes is the oil supply crisis of 2005. The crisis was caused by the devastating Hurricane Katrina and was mostly offset by the release of emergency oil stockpiles by IEA member countries. Agreement among IEA members for this type of collective action allows for a more organized response to oil disruptions.

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  1. How much oil must be produced to maintain inventory levels in the United States?

    Domestic energy investors should track the reserve inventory of crude oil for the United States, which is released in a weekly ... Read Full Answer >>
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    Oil and gas are two expansive and highly diverse product lines, with active competition domestically and internationally. ... Read Full Answer >>
  3. How do the costs of oil sands producers compare to traditional drillers?

    The oil sands of Canada are some of the most expensive crude oil assets in the world to produce. Each asset type, such as ... Read Full Answer >>
  4. Do all oil companies received the quoted price of West Texas Intermediate for their ...

    The quoted, or spot, price of West Texas Intermediate, or WTI, crude oil is just one of several benchmark oil prices. The ... Read Full Answer >>
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