Thu, 23 Jan 2025

Trump urges Opec countries to slash oil prices

President Trump said he wants OPEC and Saudi Arabia to bring down the price of oil which he says is fuelling the Russia-Ukraine war.

* President Trump has asked Saudi Arabia and other OPEC nations to bring down oil prices, which he believes are helping to fund the Russia-Ukraine war.
* He doubled-down on his threat to use tariffs and said he would ask Saudi Crown Prince Mohammed bin Salman to invest $1 trillion in the US over four years.
* The price of crude fell by 1% following Trump's comments, but some analysts say it is unlikely that Saudi Arabia will heed his request to expand oil production.
* Trump used the World Economic Forum in Davos to insist that companies manufacture their products in the US or face tariffs on imported goods.
* He also called for an immediate drop in interest rates and spoke of "good, clean, coal" as a source of power for data centers needed for artificial intelligence.
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