Oil prices slipped on Monday after U.S. President Trump called on OPEC to reduce prices following the announcement of wide-ranging measures to boost U.S. oil and gas output in his first week in office.

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.

U.S. President Donald Trump on Thursday proved that words can be just as powerful as actions — at least temporarily — after his promise to ask the Saudis and OPEC to lower the cost of oil led to a downturn in crude prices.

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?

Oil Prices Fall After Four Weeks of Gains as U.S. Boosts Domestic Supply. Will Trump’s policies hurt crude oil’s recovery?

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US President Donald Trump has reiterated calls for Opec to cut oil prices, linking higher prices to a prolongation of the war in Ukraine. Speaking to reporters after arriving in North Carolina to inspect flood damage from Hurricane Helene on Friday, Trump said that his administration wanted the producer group to “get on the ball” and cut prices.

Oil prices fell more than 1% on Monday after U.S. President Trump called on OPEC to reduce prices following the announcement of wide-ranging measures to boost U.S. oil and gas output in his first week in office.

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.

US President Donald Trump has raised the stakes for a meeting of an OPEC+ ministerial panel next month, with his call for the group to lower oil prices.