Oil prices fell more than 1% on Monday after U.S. President Trump called on OPEC to reduce prices following the announcement of wide-ranging measures to boost U.S. oil and gas output in his first week in office.

Opec and its allies including Russia have yet to react to Trump's call, with Opec+ delegates pointing to a plan already in place to start raising oil output from April

Shoigu, who leads the Kremlin's security council, told Tass, "Amid increased conflict behavior and intensified geopolitical rivalry, global risks of a military confrontation between large players, including nuclear powers, are heightening," specifically identifying Western countries as major players.

Any conversation between the two would mark the first time a sitting U.S. president and Putin have spoken since the war in Ukraine began, although former President Joe Biden held phone calls with Putin multiple times in the leadup to Moscow's invasion to urge Putin against it.

Russia is waiting for signals from Washington to commence highly anticipated peace negotiations to end the war with Ukraine.

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.

Russian President Vladimir Putin said he is "ready for negotiations" with U.S. President Donald Trump about how to end the war in Ukraine.

Ukrainian leader Volodymyr Zelensky on Friday warned that his Russian counterpart Vladimir Putin wanted to "manipulate" Donald Trump, after the Kremlin chief praised the US leader and said he was ready for talks with him.

Oil prices fell more than 1% on Monday after U.S. President Trump called on OPEC to reduce prices following the announcement of

Russian President Vladimir Putin expressed readiness to meet with Donald Trump to discuss the Ukraine conflict, pending ‘signals’ from the US. Trump has threatened tougher sanctions on Russia if the conflict continues,

President Donald Trump called on the Organization of the Petroleum Exporting Countries to lower oil prices during the World Economic Forum on Thursday, saying it would immediately end the war in Ukraine.