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. Uncertainty over how Trump's proposed tariffs and energy policies would affect global economic growth and energy demand also weighed on prices.
Oil prices edged up on Friday but remained on track for a weekly decline after U.S. President Donald Trump announced sweeping plans to boost U.S. production and demanded that OPEC move to lower crude prices.
Energy nominees advance, Trump to press OPEC, and Trump talks FEMA WHAT’S HAPPENING TODAY: Good afternoon and happy Thursday, readers! Congress is inching closer to confirming the rest of President Do
The president's remarks follow an announcement by Saudi Arabia's Crown Prince that the kingdom will invest $600 billion in the US.
Trump said he planned to ask the oil cartel to lower prices, which he said would lead to a swift end to Russia's war in Ukraine.
During a speech to the World Economic Forum on Thursday, President Donald Trump pressured the Saudi Crown Prince to increase his planned $600 billion investment in the U.S. "to a round $1 trillion" and to lower the global price of oil.
U.S. President Donald Trump on Thursday (January 23, 2025) said he will demand Saudi Arabia and OPEC bring down the cost of oil and will ask Riyadh to increase a planned U.S. investment package to $1 trillion from an initial reported $600 billion.
Markets rose Friday after a record day on Wall Street in response to Donald Trump's tax-cut pledge, while the yen strengthened after a widely expected interest rate hike by the Bank of Japan.
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Oil prices headed for first weekly drop this year as Trump asks Opec to lower costsOil prices on Friday are headed towards a drop for this week, the first this year, following US President Donald Trump's remarks on Thursday asking Opec to bring down the cost of crude. Concerns about Mr Trump’s trade policies and proposed tariffs on China,
Trump also said he would like to meet Russian President Vladimir Putin to negotiate an end to the war, citing loss of life as a major concern. He claimed his administration had done more in four days than the previous regimes did in four years.
Oil edged lower after an industry report pointed to the first gain in US crude stockpiles since mid-November, as the market watched for further pledges on global trade from President Donald Trump.Most
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