Oil Slips as Trump Repeats Call for OPEC to Reduce Prices

Singapore, 27 Jan (ONA) --- Oil prices fell more than 1% today after US President Donald Trump called on OPEC to reduce prices following the announcement of wide-ranging measures to boost US oil and gas output.

Brent crude futures dropped 87 cents, or 1.11%, to $77.63 a barrel after settling up 21 cents on Friday.

US West Texas Intermediate crude was at $73.77 a barrel, down 89 cents, or 1.19%.

Trump on Friday reiterated his call for the Organization of the Petroleum Exporting Countries to cut oil prices. However, OPEC and its allies including Russia has yet to react to Trump's call, with OPEC+ delegates pointing to a plan already in place to start raising oil output from April.

--- Ends/AH