The International Energy Agency predicts production to outstrip demand by a record 4 million barrels per day by next year. Meanwhile, there are about a billion barrels in tankers currently at sea.
The sale comes as the kingdom faces huge budget deficits.
Alaskan lawmakers struggling to close the gap are considering cuts to the dividend
Oil-refining businesses and decades-long outlooks cushion price swings.
The dip in oil prices is looking like a sustained drop. What are the consequences?
