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Trump: Will Be Asking Saudi Arabia and OPEC to Bring Down Cost of Oil

Business & Policy
January 24, 2025

U.S. President Donald Trump on Thursday announced he would be asking Saudi Arabia and OPEC to bring down the cost of oil and said he would be asking Riyadh to increase a planned U.S. investment package to $1 trillion from an initial $600 billion.

“If the price came down, the Russia-Ukraine war would end immediately. Right now, the price is high enough that that war will continue – you got to bring down the oil price,” he told the World Economic Forum in Davos by video link.

Reporting by David Ljunggren; Editing by Chizu Nomiyama