Trump said oil companies are "making too much money" amid the war with Iran
Kyiv • UNN
U.S. President Donald Trump criticized oil companies Chevron and ExxonMobil for excessive profits amid rising prices due to the war with Iran. He called on them to immediately lower retail oil prices.
U.S. President Donald Trump said on Monday that oil companies such as Chevron and ExxonMobil are "making too much money" amid a sharp rise in oil prices linked to the war with Iran, reports UNN citing CNN.
"They're making too much money. Okay, given the shortage, they're making too much money. I don't like it, and I should be the last one to say that, because I'm a big supporter of free enterprise," Trump told reporters in the Oval Office.
"Nobody is bigger, and you know, you'll see oil prices come down when we're done with Iran. You'll see prices drop sharply. But they've made too much money, too much money. Chevron – too much money. ExxonMobil – too much, too much money," he continued.
The publication notes that ExxonMobil and Chevron, the two largest U.S. oil companies, reported colossal profits last week, driven by a sharp rise in global oil prices caused by the U.S.-Iran war.
Earlier on Monday, on Truth Social, Trump complained that Chevron CEO Mike Wirth did not give the Trump administration proper credit for its successes in a television interview. The president added that oil companies need to "reduce consumer (retail!) oil prices immediately!"
Trump demands oil companies immediately lower gasoline prices03.08.26, 18:38 • 2710 views
He added in the Oval Office: "When you look at a company that made 12 times more than it did the previous year, it should give some of that money back to the public and lower the retail price, the consumer price."
"Too much money. Are you surprised I'm saying that? I'll say it loud and clear. I'm unhappy about it," Trump said.