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Oil Prices Dip as Traders Brace for U.S. Production Boom

Oil Prices Dip as Traders Brace for U.S. Production Boom

Crude oil prices were trending lower today and set to book their first weekly loss this year on expectations that President Donald Trump will boost global supply and depress prices. The latest drop came after Trump’s speech at the World Economic Forum in Davos, where he called on OPEC and Saudi Arabia specifically to lower oil prices. “If the price came down, the Russia-Ukraine war would end immediately. Right now, the price is high enough that that war will continue – you got to bring down the oil price,” Trump said during his…

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