Oil fell 1% on Thursday after U.S. President Donald Trump urged Saudi Arabia and OPEC to bring down its cost during his address at the World Economic Forum.
Trump’s push for cheaper oil, rising U.S. inventories, and OPEC’s next move weigh heavily on crude oil markets. Will prices fall further?
President Donald Trump called on the Organization of the Petroleum Exporting Countries to lower oil prices during the World Economic Forum on Thursday, saying it would immediately end the war in Ukraine.
Oil Prices Fall After Four Weeks of Gains as U.S. Boosts Domestic Supply. Will Trump’s policies hurt crude oil’s recovery?
President Trump is urging Saudi Arabia and OPEC to increase oil output to pressure Russia into ending the war in Ukraine, while also threatening additional sanctions against Russia.
Crude futures are headed for weekly declines after U.S. President Trump outlined plans to boost domestic production and said he would ask Saudi Arabia and OPEC to lower oil prices. Brent crude and WTI both rose 0.
The president's remarks follow an announcement by Saudi Arabia's Crown Prince that the kingdom will invest $600 billion in the US.
The British publication emphasized that these scenarios do not include unlikely outcomes, such as the death of Russian dictator Vladimir Putin or a sudden and successful Ukrainian counteroffensive. The article’s author suggests that Putin remains convinced he can defeat Ukraine,
He [Trump] doesn’t provide specific plans—he just says he truly wants to end the war. So far, we don’t know how that would work, because we don’t know the details. And I think President Trump himself doesn’t know all the details,
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