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World oil prices

Oil prices decline amid Trump’s statements on OPEC

Brent futures dropped by 1.24% to $78.02 per barrel

MOSCOW, January 23. /TASS/. Brent oil futures with delivery in March 2025 were going down amid the statement of US President Donald Trump that the US would seek after the oil price reduction from Saudi Arabia and OPEC, according to trading data.

Brent futures dropped by 1.24% to $78.02 per barrel. Further on, Brent prices rolled back to $78.46 per barrel (down 0.68%). WTI oil futures with the settlement in March moved to $74.82 per barrel.

US President Donald Trump said in his video address to World Economic Forum participants in Davos that the US would push Saudi Arabia and OPEC to reduce oil prices, particularly for applying pressure on Russia in the conflict with Ukraine.

OPEC countries were to cut the oil price long before and the conflict in Ukraine would then have already ended, Trump also said.

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