Low oil price chance for Gulf economic reforms: ministers

The sharp drop in the price of oil, the lifeblood of Gulf economies, is an opportunity to end subsidies and introduce reforms in the energy-rich region, ministers said Friday. "With low prices... it is the right time" to cut subsidies on oil products, Kuwait's Finance Minister Anas al-Saleh said at the World Economic Forum in Davos, Switzerland. In a panel on the future of economic reform in the Arab world, Saleh -- also Kuwait's acting oil minister -- said that record low oil prices would make