Saudi Arabia's energy minister and several of his OPEC+ counterparts held talks following Trump’s call to lower oil prices, but delegates said its Feb. 3 meeting is unlikely to adjust its current plan

Enter Donald Trump. The new US president could call on Opec. He can pledge to ratchet up oil sanctions on Russia to the point where their impact becomes more acute: these would target not only producers, but refiners, ports, insurers and the shadow fleet. He can also apply more political pressure on China, India and Turkey to support compliance.

Saudi Arabia's energy minister met his counterparts from the United Arab Emirates (UAE), Iraq and Libya on Monday following U.S. President Donald Trump's call for lower oil prices and ahead of a meeting next week of OPEC+ oil-producing countries.

OPEC expected growth in 2025 is unchanged from last month’s report and the 2026 estimate for World liquids growth is the same as the 2025 estimate at 1.4 Mb/d, this month is the first estimate for 2026 demand growth and non-DOC supply growth.

Oil prices slipped on Monday after U.S. President Trump called on OPEC to reduce prices following the announcement of wide-ranging measures to boost U.S. oil and gas output in his first week in office.

U.S. President Donald Trump is expected to pressure Saudi Arabia and OPEC to lower oil prices, a move that could eventually lead to a new oil price war

Advancing partnerships: A co-financing agreement with the World Bank Group; MoUs with IFAD, FONPLATA; Country Framework Agreements with Uzbekistan, Kazakhstan, Turkmenistan

OPEC's share in India's crude oil imports edged up in 2024, rising for the first time in nine years, while top supplier Russia's share remained steady, data obtained from trade sources showed.

"You've got to bring down the oil price, you've got to end that war. They should have done it long ago," President Donald Trump said.

Oil prices slipped for a second day on Thursday after U.S. crude stockpiles rose more than expected, though attention remained on tariffs threatened by U.S. President Donald Trump on Mexico and Canada,

Trump's nominee to run the Commerce Department, Howard Lutnick, said on Wednesday that Canada and Mexico can avoid the tariffs if they act swiftly to close their borders to fentanyl, while vowing to slow China's advancement in artificial intelligence.