President Donald Trump is emphasizing that targeting Russia’s oil revenue is the best way to get Moscow to end its nearly three-year war against Ukraine.

Addressing executives at the World Economic Forum in Davos, Trump minced no words as he accused the Saudis and OPEC of sustaining Russia's military offensive in Ukraine by maintaining high oil 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.

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

Crude oil futures fell on Thursday after President Donald Trump said he will ask Saudi Arabia and OPEC to reduce prices. “I’m also going to ask Saudi Arabia and OPEC to bring down the cost of oil,” Trump said in an address to the World Economic Forum.

Donald and Melania Trump are stopping in North Carolina, California and Nevada during the first second term trip. Follow along for live updates.

During a speech to the World Economic Forum on Thursday, President Donald Trump pressured the Saudi Crown Prince to increase his planned $600 billion investment in the U.S. "to a round $1 trillion" and to lower the global price of oil.

He did not offer clear details on what he would replace it with, but indicated he wants to move more of the disaster management responsibility to the states.

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.

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Donald and Melania Trump are stopping in North Carolina, California and Nevada during the first second term trip. Follow along for live updates.