Bloomberg As the world’s biggest crude producers stop short of taking action to address the global oversupply, output cuts by their largest customers are helping to mop up the glut. While Asia buys more oil than any other region, it also accounts for about 8 percent of supply and has been cutting back as crude’s collapse prompts a wave …

  Bloomberg Saudi Arabia is weighing plans to cancel more than $20 billion of projects and slash ministry budgets by a quarter to repair finances squeezed by low oil prices, people familiar with the matter said — efforts that analysts expect to slow economic growth. The government is reviewing thousands of projects valued at about 260 billion riyals ($69 billion) …

  Emirates Business Oman’s Ministry of Transport and Communications “MOTC” has signed an agreement with Emirates Classification Society, TASNEEF, authorizing it to inspect the small ships that are not abiding by the international conventions in GCC countries. The agreement will help ensure that all ships and vessels are compliant with the safety requirements of the GCC “GCC CODE”. The Emirates …