US producers, Saudi Arabia resist Trump's push for increased oil production, WSJ reports

American oil producers and Saudi Arabia are pushing back against U.S. President Donald Trump's call to ramp up oil production, signaling reluctance to align with his strategy to lower global energy prices, the Wall Street Journal (WSJ) reported on Feb. 3.

Trump has repeatedly called for lowering oil prices by increasing production, arguing that undercutting Russia's oil revenue would force Moscow to end its war against Ukraine.

While major oil companies were among Trump's top campaign donors, their priority is regulatory relief and long-term market stability rather than an immediate production surge, sources told the WSJ.

U.S. shale producers have reportedly informed the White House that they do not plan to expand drilling, despite Trump's rhetoric about boosting output.

Saudi Arabia has also conveyed its reluctance to increase production. According to the WSJ, Riyadh has privately informed former U.S. officials that it does not intend to ramp up output, a position that has been passed on to the current administration.

Trump seeks Ukrainian rare earths in exchange for aid, Kyiv keen to agree, source says

U.S. President Donald Trump is seeking to have Ukraine supply the U.S. with rare earths as a condition for aid for the war-torn country. “We’re looking to do a deal with Ukraine, where they’re going to secure what we’re giving them with their rare earths and other things,

The Kyiv IndependentKateryna Hodunova

Speaking via video link at the World Economic Forum in Davos on Jan. 23, Trump said he would ask the Organization of the Petroleum Exporting Countries (OPEC) to lower oil prices, claiming it would bring an immediate end to the war in Ukraine.

OPEC, which includes 12 member states, including Iraq, Iran, Kuwait, and Saudi Arabia, controls about 30% of the global oil supply and can significantly influence prices through production adjustments.

Trump's energy policy aligns with broader efforts to increase pressure on Russia's economy. Keith Kellogg, the incoming U.S. peace envoy, told Fox News on Jan. 24 that stricter measures targeting Russia's oil industry could weaken the Kremlin's financial standing and force it into negotiations.

Trump has claimed that his team has already held "very serious" discussions with Russian officials about the war in Ukraine and suggested that he and Russian President Vladimir Putin could soon take "significant steps" toward ending the conflict.

Putin said on Jan. 24 that Russia is ready for talks with Trump, whom he described as having a "pragmatic and trusting" relationship with Moscow. Reuters reported on Jan. 23 that Putin is increasingly concerned about Russia's economy, citing five undisclosed sources.

Ukraine's President Volodymyr Zelensky has said that Trump could fulfill his promise to end the war, but only if Ukraine is included in negotiations.

Yanukovych’s son made billions selling coal from occupied Ukrainian territories, media reports

The company behind the exports, Energoresurs, is registered in Rostov-on-Don, Russia, and has exported nearly half a million tons of coal abroad between 2023 and 2024. According to the investigation, the firm sources coal from suppliers in occupied Donbas and transports it to Turkey by rail and sea.

The Kyiv IndependentTim Zadorozhnyy