The world could find itself drowning in oil this year and prices could fall further as new Iranian output cancels out production cuts elsewhere, according to the International Energy Agency. [The Guardian]

Today Member States agreed on a Commission proposal to invest €217 million in key trans-European energy infrastructure projects, mainly in Central and South Eastern Europe. [European Commission Press Release]

According to analytics company IHS, battery cost reductions, government funding programs, and utility tenders all contributed to a 45% increase in the global energy storage pipeline in Q4’15. [CleanTechnica]