The IEA was founded in response to the 1973/4 oil crisis in order to help countries co-ordinate a collective response to major disruptions in oil supply through the release of emergency oil stocks to the markets.
When it was founded, the main objectives of the IEA were:
- to maintain and improve systems for coping with oil supply disruptions;
- to promote rational energy policies in a global context through co-operative relations with non-member countries, industry and international organisations;
- to operate a permanent information system on the international oil market;
- to improve the world’s energy supply and demand structure by developing alternative energy sources and increasing the efficiency of energy use;
- to promote international collaboration on energy technology; and
- to assist in the integration of environmental and energy policies.
For more information, read ‘History of the IEA’: Volumes I, II, III, IV
Key historical documents