According to Reuters, OPEC’s leader Saudi Arabia and its biggest oil-producer ally, Russia, ruled out on Sunday any immediate, additional increase in crude output, rebuffing U.S. President Donald Trump’s calls for action to cool the market. Saudi Energy Minister Khalid al-Falih reporters that he does "not influence prices." Benchmark Brent oil reached $80 a barrel this month, prompting Trump to reiterate on Thursday his demand that the OPEC organization lower its prices.

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