The plunge in global oil prices has eroded an important pillar of Saudi Arabia’s strategy of pumping freely to grab global market share: Demand growth that once looked solid doesn’t look so steady anymore, mainly due to concerns about China. That has again raised a question at the heart of oil markets for more than a year: Could the world’s largest exporter of oil move to restrain production in hopes of stabilizing prices? Even before the general market rout extended into Monday, falling oil prices had sparked renewed calls from Algeria for the Organization of the Oil Exporting Countries to reverse course and discuss production cuts. On Monday, Iran, another OPEC member, said it would welcome an emergency meeting of the group, even as it restated vows to boost its own production as soon as international sanctions are lifted, possibly later this year. Those calls are aimed directly at […]