The EIA has lowered crude price forecasts in its Short-Term Energy Outlook (STEO), expecting West Texas Intermediate (WTI) crude oil prices to average $49 per barrel (b) in 2015 and $54/b in 2016. [EIA]

New documents have revealed BP was part of an oil and gas lobby that successfully undermined EU renewable energy targets and subsidies in favour of gas as a climate fix in 2011. [The Guardian]

Iran’s nuclear deal with the West could lift crushing unleash millions of barrels of Iranian oil onto an already saturated market, making it a new energy superpower. [Forbes]