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Donald Trump has called on Opec to push down global oil prices and insisted that central banks around the world lower interest rates “immediately” afterwards.
In a speech to executives in Davos on Thursday, the US president urged Saudi Arabia and other producers to lower the cost of crude oil, expressing dismay that they had not done so already.
“I’m going to ask Saudi Arabia and Opec to bring down the cost of oil. You gotta bring it down. Which frankly I’m surprised they didn’t do before the election,” he said.
“Right now the price is high enough that that war will continue,” he said, referring to Russia’s full-scale invasion of Ukraine.
“You gotta bring down the oil price, that will end that war. You could end that war,” he added.
The US president also used the speech to insist that companies around the world manufacture their products in the US — or face sweeping tariffs on imported goods entering the American market.
He touted his economic agenda of radical deregulation and the “largest tax cut in American history” to business chiefs and global leaders, calling it “nothing less than a revolution of common sense”.
This is a developing story
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2025-01-23 10:34:04
