DAVOS, Switzerland - Saudi Economy Minister Faisal Alibrahim said on Friday that the $600 billion of expanded investment and trade with the United States mentioned by Saudi Crown Prince Mohammed bin Salman includes investments as well as procurement from the public and private sectors.

US President Donald Trump has raised the stakes for a meeting of an OPEC+ ministerial panel next month, with his call for the group to lower oil prices.

The oil-rich kingdom is still assessing whether to join the bloc, the economy minister has said Saudi Arabia is still evaluating potential

Brent crude futures were down 50 cents at $77.95 a barrel. West Texas Intermediate crude (WTI) fell 31 cents to $74.31 in the United States.

Asian markets rose Friday after a record day on Wall Street in response to Donald Trump’s tax-cut pledge, while the yen weakened slightly ahead of an expected interest rate hike by the Bank of Japan later in the day.

On January 23, the Saudi State news agency said the kingdom wants to put $600 billion into expanded investment and trade with the US over the next four years

Trump's calls for OPEC and Saudi Arabia action weigh on crude prices. Find out the impact on market sentiment and future supply dynamics.

Donald Trump, the U.S. president, called on Gulf countries to cooperate in reducing global oil prices to help end the war in Ukraine. Speaking at the World Economic Forum in Davos, Switzerland, on Thursday, Trump urged Saudi Arabia to increase its investment in the U.S. to $1 trillion.

The World Economic Forum announces new Centres for the Fourth Industrial Revolution, with the University of Pretoria among the key locations.

The Global Cybersecurity Forum (GCF) and the World Economic Forum (WEF) announced the signing of an agreement to establish the Centre for Cyber Economics (CCE) in Riyadh, during the WEF Annual Meeting 2025 being held in Davos,

Oil markets sank on Friday, a day after U.S. President Donald Trump pressured OPEC and its de facto leader Saudi Arabia to lower prices in a broad push to drive up crude production.

U.S. President Donald Trump has called on Saudi Arabia and OPEC to lower oil prices while encouraging Riyadh to increase its U.S. investment from $600 billion to $1 trillion. Trump's remarks were made following discussions with Saudi Crown Prince Mohammed bin Salman about future economic collaborations.