IEA -- The International Energy Agency (IEA) acts as energy policy advisor to 27 member countries in their effort to ensure reliable, affordable and clean energy for their citizens. Founded during the oil crisis of 1973-74, the IEA’s initial role was to co-ordinate measures in times of oil supply emergencies. As energy markets have changed, so has the IEA. Its mandate has broadened to incorporate the “Three E's” of balanced energy policy making: energy security, economic development and environmental protection. Current work focuses on climate change policies, market reform, energy technology collaboration and outreach to the rest of the world, especially major consumers and producers of energy like China, India, Russia and the OPEC countries.
OPEC -- The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, ｃ ｒｅａｔｅd at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The five Founding Members were later joined by nine other Members: Qatar ( 1961); Indonesia ( 1962); Socialist Peoples Libyan Arab Jamahiriya ( 1962); United Arab Emirates ( 1967); Algeria ( 1969); Nigeria ( 1971); Ecuador ( 1973) – suspended its membership from December 1992-October 2007; Angola ( 2007) and Gabon (1975–1994). OPEC had its headquarters in Geneva, Switzerland, in the first five years of its existence. This was moved to Vienna, Austria, on September 1, 1965.
OPEC's objective is to co-ordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry.