Definitions in this glossary of energy-related terms reflect those used by the IEA; definitions used by other organisations and publications may vary.

 
 

In the event of an oil supply disruption, IEA member countries are all committed to taking joint measures in the event of oil supply emergencies in order to avoid economic damage to their countries. They have all agreed to share energy information, co-ordinate their energy policies and co-operate in the development of rational energy programmes. Each of the IEA’s 28 member countries is also required to hold oil stocks equivalent to 90 days of its prior year’s net imports.

The IEA is an autonomous organisation which works to ensure reliable, affordable and clean energy for its 28 member countries and beyond. Founded in response to the 1973/4 oil crisis, the IEA’s initial role was to help countries co-ordinate a collective response to major disruptions in oil supply through the release of emergency oil stocks to the markets. While this continues to be a key aspect of its work, the IEA has evolved and expanded. It is at the heart of global dialogue on energy, providing authoritative and unbiased research, statistics, analysis and recommendations.