Trump, in a speech delivered remotely to the World Economic Forum’s annual meeting in Davos, Switzerland, last week, called on Saudi Arabia and OPEC to boost oil production and bring down prices. OPEC+ members haven’t responded publicly, but top ministers are due to meet Monday in a regularly scheduled online meeting.

Trump is pressuring Saudi Arabia and other OPEC members to expand oil production in order to lower prices. TD Securities' Bart Melek discusses why prices are likely to climb despite this.

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.

"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.

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.

The OPEC+ group of leading oil producers is set to discuss President Donald Trump's efforts to raise U.S. oil production and take a joint stance on the matter, Kazakhstan said on Wednesday.