Despite Trump's repeated demands, OPEC and Russia have not responded while global oil prices decline
WASHINGTON: (UrduPoint/Pakistan Point News-Jan 27th, 2025) US President-elect Donald Trump once again called on the Organization of the Petroleum Exporting Countries (OPEC) to reduce fuel prices.
The international news agencies said that despite Trump's repeated demands, OPEC and Russia did not respond. However, the global oil prices declined.
On the global market, Brent crude futures dropped by 53 cents to $77.97 per barrel, and marked a 0.68% decrease.
Similarly, the price of US West Texas Intermediate (WTI) crude fell by 50 cents to $74.16 per barrel, and reflected a decline of approximately 0.67%.
The drop in crude oil prices came as Donald Trump reiterated his call for OPEC countries to lower fuel prices.
US President Trump said that if OPEC stopped making excessive profits, reduced the oil prices and increased production, the Russia-Ukraine war would end immediately.
