“Oil prices were little changed on Friday but extended a week-long slide after US President Donald Trump unveiled a massive plan to increase US production and demanded OPEC cut oil prices. Reuters writes about it. Brent crude futures rose 6 cents to $78.35 a barrel at 07:45 GMT, while US West Texas Intermediate (WTI) crude rose 4 cents to $74.66. For the week, Brent was down 3.07% and WTI was down 4.17%.Advertisement: During his speech Thursday at the World Economic Forum in Davos, Switzerland, Trump said he would demand that the Organization of the Petroleum Exporting Countries and its actual leader, Saudi Arabia, to reduce the price of barrels of oil. He also said he would ask Riyadh to increase the US investment package to $1 trillion, up from the $600 billion Saudi state news agency reported earlier in the day. On Monday, Trump declared an energy emergency, lifting environmental restrictions on energy infrastructure as part of a sweeping plan to maximize domestic oil and gas production.Advertisement: Read also: Trump plans to crash oil prices. How realistic is it and how will it affect Russia? We will remind: US President Donald Trump repeated his call to the European Union to buy more American oil and gas if the EU wants to avoid new tariffs.”, — write: epravda.com.ua
Oil prices were little changed on Friday but extended a week-long slide after US President Donald Trump unveiled a massive plan to increase US production and demanded OPEC cut oil prices. Reuters writes about it. Brent crude futures rose 6 cents to $78.35 a barrel at 07:45 GMT, while US West Texas Intermediate (WTI) crude rose 4 cents to $74.66. For the week, Brent was down 3.07% and WTI was down 4.17%.Advertisement: During his speech Thursday at the World Economic Forum in Davos, Switzerland, Trump said he would demand that the Organization of the Petroleum Exporting Countries and its actual leader, Saudi Arabia, to reduce the price of barrels of oil. He also said he would ask Riyadh to increase the US investment package to $1 trillion, up from the $600 billion Saudi state news agency reported earlier in the day. On Monday, Trump declared an energy emergency, lifting environmental restrictions on energy infrastructure as part of a sweeping plan to maximize domestic oil and gas production.Advertisement: Read also: Trump plans to crash oil prices. How realistic is it and how will it affect Russia? We will remind: US President Donald Trump repeated his call to the European Union to buy more American oil and gas if the EU wants to avoid new tariffs.