President Donald Trump has called on Saudi Arabia and the Organization of the Petroleum Exporting Countries (OPEC) to reduce global oil prices, asserting that such a move could expedite the conclusion of the Russia-Ukraine conflict as well as increased U.S. investments.
Speaking at the World Economic Forum, Trump emphasized that high oil prices are sustaining Russia’s war efforts and that lowering them would pressure Moscow to cease hostilities. President Trump further emphasized the strategic importance of U.S.-Saudi relations, stating, “We’ve been very good to them.”
In addition to addressing oil prices, Trump announced plans to request an increase in Saudi Arabia’s investment in the United States. The Kingdom had previously committed to a $600 billion investment over the next four years; however, Trump aims to elevate this figure to $1 trillion. He expressed confidence in securing this enhanced commitment, stating, “I think they’ll do that because we’ve been very good to them.”
These developments follow discussions between President Trump and Saudi Crown Prince Mohammed bin Salman regarding the Kingdom’s international economic ambitions and trade relations. The Saudi government has yet to respond to Trump’s latest remarks.