Saudi Arabia’s oil minister Ali al-Naimi, under pressure to take action to prop up crude prices at this week’s OPEC meeting, took a conciliatory tone on Tuesday, saying the kingdom would have a discussion about the group’s next step. “We will listen, and then decide,” Mr. Naimi said when asked what outcome Saudi Arabia was seeking from the Organization of the Petroleum Exporting Countries’ meeting on Friday. Saudi Arabia, the world’s top exporter of crude oil, has led OPEC into its current yearlong policy of pumping up production even as prices have remained stuck below $50 a barrel, a departure from its past practice of lowering output to support robust prices. The strategy was supposed to allow OPEC to expand its share of the export market while reducing the global oversupply of oil by forcing out producers thought to need high prices. But the prolonged slump has led to […]