US President Trump voiced his discontent with ExxonMobil and Chevron, accusing them of reaping excessive profits at the expense of consumers. The oil companies defended their actions by attributing price hikes to global market trends. Both firms showcased robust quarterly earnings driven by soaring oil prices, which raises political stakes as voters grapple with rising fuel costs ahead of the midterm elections.

US President Donald Trump again called on oil companies to lower gasoline prices for American consumers on Monday, chiding Chevron Chief Executive Mike

Donald Trump stated his administration's policies fueled Chevron's success and growth. He highlighted the company's return to Venezuela as a significant achievement. Trump urged…

The president also criticized major oil companies for making too much money

Chevron’s net income increased to $12.2 billion in the second quarter of 2026, an almost 400% rise compared to the same period last year.