Oil prices fell more than 1% 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.

Oil prices fell over 1% on Monday after U.S. President Donald Trump urged OPEC to reduce oil prices to pressure Russia amid the ongoing Ukraine war. Brent crude dropped 1.11% to $77.63 a barrel, while U.

"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 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.

Trump’s push for cheaper oil, rising U.S. inventories, and OPEC’s next move weigh heavily on crude oil markets. Will prices fall further?

U.S. President Donald Trump on Friday reiterated his call for OPEC to cut oil prices to hurt oil-rich Russia's finances and help bring an end to the war in Ukraine.

US President Donald Trump has reiterated calls for Opec to cut oil prices, linking higher prices to a prolongation of the war in Ukraine. Speaking to reporters after arriving in North Carolina to inspect flood damage from Hurricane Helene on Friday, Trump said that his administration wanted the producer group to “get on the ball” and cut prices.