Afternoon Coffee: IEA Warns of Oil Price Increase in 2017, Amazon Launches Clothing Lines

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The International Energy Agency said it expects oil prices to begin rising again in 2017 as the market begins to balance and supply growth slows through 2021. The IEA warned consumers not to be “lulled into complacency” by current low prices.

Amazon has launched its own clothing lines. The company is selling at least 1,800 different fashion products including women’s and men’s clothing and accessories under a variety of labels like Society New York, Franklin & Freeman and North Eleven.  

The Takata air bag inflator defect may cause 70 million to 90 million more cars to be recalled. The National Highway Traffic Safety Administration is investigating all Takata Corp air bag inflators that use a now banned chemical propellant to determine if it needs to expand the recall.

The Advisory Committee on Supply Chain Competitiveness, a group that provides support to the U.S. Department of Commerce, offered steps the government can take to fight congestion at U.S. ports. The committee sent a report to the Commerce Department detailing its recommendations, which included creating “lockboxes” that ensure freight-related funds are not diverted to other projects.


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