Trump Urges OPEC to Lower Oil Prices at Davos

During his address at the World Economic Forum in Davos, U.S. President Donald Trump emphasized his intention to urge Saudi Arabia and OPEC to lower oil prices, linking this move to pressure on Russia to end its war in Ukraine. This declaration follows Saudi Crown Prince Mohammed bin Salman's announcement of a $600 billion investment in the United States, although Trump suggested this should be increased to $1 trillion. Trump's remarks led to a 1% drop in crude oil prices as markets reacted. He also reiterated his stance on reducing interest rates and criticized allies like Canada and the EU for trade imbalances, warning of potential tariffs. Additionally, Trump vowed to tackle economic issues stemming from what he termed the failed policies of his predecessor, Joe Biden, focusing on cutting government spending and reversing regulatory restrictions.