Addressing executives at the World Economic Forum in Davos, Trump minced no words as he accused the Saudis and OPEC of sustaining Russia's military offensive in Ukraine by maintaining high oil 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.

Kremlin spokesman Dmitry Peskov commented on U.S. President Donald Trump's statement calling for a decrease in world oil prices to end the war between Moscow and Kyiv, claiming that the move will not affect its outcome.

The president's remarks follow an announcement by Saudi Arabia's Crown Prince that the kingdom will invest $600 billion in the US.

During a speech to the World Economic Forum on Thursday, President Donald Trump pressured the Saudi Crown Prince to increase his planned $600 billion investment in the U.S. "to a round $1 trillion" and to lower the global price of oil.

On the eve of possible negotiations between Russia and the United States on the Ukrainian conflict, Donald Trump burns napalm. On the one hand, the new owner of the White House threatens Moscow with new tariffs and sanctions if it is uncooperative.

Donald and Melania Trump are stopping in North Carolina, California and Nevada during the first second term trip. Follow along for live updates.

He did not offer clear details on what he would replace it with, but indicated he wants to move more of the disaster management responsibility to the states.

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.

OPEC+ has yet to react to a call from U.S. President Donald Trump for lower oil prices, with delegates from the group pointing to a plan already in place to start raising oil output from April.

President Donald Trump doubled down on ending the war in Ukraine during his speech at Davos a day after threatening Russia and Putin with tariffs and sanctions.