Saudi Foreign Minister Adel al-Jubeir chairs a Gulf Cooperation Council (GCC) informal summit in the Saudi Red Sea city of Jeddah on May 31, 2016. Gulf Arab states grappling with lower oil revenues on Tuesday formed a new agency to tighten economic cooperation in the region. The Economic and Development Affairs Authority 'will boost coherence, integration and coordination between member states in all economic and development sectors,' the Gulf Cooperation Council said in a statement after a summit in Jeddah, Saudi Arabia. / AFP / STRINGER