Saudi Arabia’s oil minister Ali al-Naimi said on Tuesday that the kingdom stood ready to “improve” prices but only if other producers outside of the Organization of the Petroleum Exporting Countries (OPEC) joined the effort. Naimi said Saudi Arabia had pumped around 10.3 million barrels per day (bpd) in March, marking an increase from previous months. He did not say why output had risen. Naimi also said he expected oil prices that have languished near six-year lows to improve in the near future. Oil prices extended gains late on Tuesday as traders took Naimi’s comments as sign he may be open to renewed talks with producers like Russia and Mexico over curbing production in order to revive prices. U.S. crude rose 3.5 percent to close at $53.98 a barrel, near its highest this year. “The kingdom is still ready to help bring back stability to the […]