Saudi Arabia and OPEC's focus is on ensuring long-term market stability to meet growing demand, including from the U.S. and the rise of artificial intelligence, Saudi Minister Alibrahim said. Read also: Saudi summit helped isolate Russia,

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.

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.