The International Energy Agency 's Basis for Existence

EIN News says, "IEA Watching Oil Markets Closely The International Energy Agency is ready to take action if more oil is needed on the global energy market, the agency's director said from Paris. (upi.com)".

The above statement is an implication that the IEA has the power to affect oil supplies. Let's see if that's true.

The IEA is a voluntary organization of member countries. There are 28 members. Only two of these have significant production of oil. They are Canada and the US. Other than those two, countries producing more than 2 million barrels per day are Russia, Saudi Arabia, China, Iran, Mexico, Emerates, Brazil, Kuwait, Venezuela, Iraq, Norway, Nigeria, and Algeria. Notice that except for Canada and the US, no oil producing countries are members of the IEA.

Perhaps I am missing something, but I don't see that the IEA has any power at all, and no reason for its existence. Its member countries are primarily consumers of oil. Does the IEA presume that it will be able to convince its member countries to boycott oil use? Ridiculous!