Low global oil prices will contribute to the end of the war in Ukraine, so OPEC countries, including Saudi Arabia, one of the world's largest oil exporters, must lower prices.

This was stated by the new US President Donald Trump, speaking at the World Economic Forum in Davos, reports UNIAN.

“I'm surprised why they didn't do it before the [US presidential] election. If the price went down, Russia's war against Ukraine would quickly end. As long as prices are high, the war will continue,” he said.

According to Trump, his efforts to resolve Russia's war against Ukraine are “in progress.”

In addition, in his speech, the US president called on NATO countries to increase their own defense spending to 5% of GDP.

During the election campaign, Trump promised, among other things, to achieve a significant reduction in oil prices, including stimulating domestic production in the United States. So he wants to help the American economy.

This week, world oil prices have indeed dropped significantly after Donald Trump confirmed his plans for the energy sector at his inauguration. Brent crude futures fell 65 cents, or 0.81%, to $79.5 per barrel. At the same time, US WTI (West Texas Intermediate) oil prices fell by $1.15, or 1.48%, to $76.73.