Oil fell 1% on Thursday after U.S. President Donald Trump urged Saudi Arabia and OPEC to bring down its cost during his address at the World Economic Forum.

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 Thursday proved that words can be just as powerful as actions — at least temporarily — after his promise to ask the Saudis and OPEC to lower the cost of oil led to a downturn in crude prices.

President Trump is urging Saudi Arabia and OPEC to increase oil output to pressure Russia into ending the war in Ukraine, while also threatening additional sanctions against Russia.

Crude futures are headed for weekly declines after U.S. President Trump outlined plans to boost domestic production and said he would ask Saudi Arabia and OPEC to lower oil prices. Brent crude and WTI both rose 0.

Oil Prices Fall After Four Weeks of Gains as U.S. Boosts Domestic Supply. Will Trump’s policies hurt crude oil’s recovery?

The president's remarks follow an announcement by Saudi Arabia's Crown Prince that the kingdom will invest $600 billion in the US.

Trump’s oil plan to end Ukraine war.

Crude oil futures fell for the week, as Trump said he would seek lower oil prices from OPEC, implying a need to increase output, but lower oil prices also result in lower profitability.

The P/E ratio measures a company's stock price relative to its earnings per share. A high P/E suggests that a stock has become expensive compared to its earnings - a crucial fundamental for a company - and is potentially overvalued.

On Tuesday, the first trading day following the inauguration, the Dow Jones Industrial Average DJIA rose 1.2% and the S&P 500 SPX climbed 0.9% as investors welcomed Trump's calmer-than-expected tone on tariffs. The S&P 500 hit its first record close of his second term on Thursday.