Donald Trump calls on Opec to push down global oil prices

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Donald Trump called on OPEC to lower global oil prices and insisted that central banks around the world cut interest rates “immediately”.

In a speech to leaders in Davos on Thursday, the US president urged Saudi Arabia and other producers to lower crude prices, expressing concern that they had not already done so.

“I’m going to ask Saudi Arabia and OPEC to lower the price of oil. You have to lower it. Which, frankly, I’m surprised they didn’t do before the election,” he said.

“The price is high enough now that that war will continue,” he said, referring to Russia’s full-scale invasion of Ukraine.

“You have to lower the price of oil, that will end that war. You can end that war,” he added.

The US president also used the speech to insist that companies around the world manufacture their products in the US or face significant tariffs on imports entering the US market.

He touted his economic agenda of radical deregulation and the “biggest tax cut in American history” to business leaders and world leaders, calling it “nothing less than a revolution in common sense.”

This is a developing story