Donald Trump addressed the Davos Economic Forum on Thursday, January 23, signaling his priority of ending the war in Ukraine. To achieve this, he plans to pressure Russian leader Vladimir Putin and Saudi Arabia through lower oil prices, leveraging their responsibility for global energy markets. Trump emphasized that a drop in oil prices could end the conflict and boost prosperity. His speech immediately impacted global oil markets, with Texas Intermediate falling by 1%. Meanwhile, OPEC+ members, including Russia, agreed to further reduce production to prevent prices from plummeting, with cuts set to last until March 2025. The market reaction shows significant concern over energy security amid geopolitical tensions.
Source: https://www.lemonde.fr/en/international/article/2025/01/25/trump-calls-on-saudi-arabia-to-lower-oil-prices-to-induce-russia-to-negotiate-on-ukraine_6737400_4.html