OPEC oil prices: Trump's strategy for Ukraine peace
During his Friday speech in North Carolina, U.S. President Donald Trump stated that lowering oil prices by OPEC could lead to the immediate end of the conflict in Ukraine. The American leader presented his vision for resolving the international crisis.
During a conference at the airport in Asheville, Trump argued: "That will automatically stop the tragedy that's taking place in Ukraine. It's a butchering tragedy for both sides." However, the president did not specify his actions if the cartel did not respond.
Trump expanded on his concept by arguing that current high commodity prices are hindering the end of the conflict. The American president stated that the war would end immediately if OPEC stopped making so much money and cut oil prices.
Donald Trump builds his relations with partners
A day before his appearance in North Carolina, Trump had his first phone conversation with Prince Mohammed bin Salman since his inauguration. The Saudi Crown Prince expressed a willingness to invest $825 billion in the American economy over the next four years.
Trump did not rule out that his first overseas visit in the new term could be to Saudi Arabia. The official White House statement did not mention whether oil prices were discussed during the conversation.
Controversies surrounding oil policy
Trump repeatedly criticized his predecessor, Joe Biden, for a policy that he believes enabled Russia to fund its invasion of Ukraine through high oil prices. Particular controversy was raised by OPEC's decision to reduce oil production shortly after the start of Russian aggression.
It is worth noting that despite these disruptions, the United States maintained its position as the world's largest oil producer, ahead of Saudi Arabia and Russia. Trump presented similar proposals during his virtual appearance at the World Economic Forum in Davos.
