Trump: Oil firms making too much money from Iran-US conflict — I don’t like it
US President Donald Trump says oil companies are making too much money from the US-Iran conflict.
Trump expressed his displeasure while speaking to journalists at the White House on Monday.
He said the companies are making too much money due to high prices stemming from the war.
“They’re making too much money. Based on a shortage, they’re making too much money. I don’t like it,” the US president said.
“And I should be the last one to say this because I’m a big free enterprise guy, nobody bigger.”
Trump said oil prices would “drop through the floor” once the US is finished with Iran, reiterating that the companies have made “too much money from oil”.
“Chevron, too much money. Exxon Mobil, too much money. When you look at one company where they made 12 times what they made the year before, they’re gonna give some of that back to the public,” he said.
“And they better cut the retail price, the consumer price. You’re surprised I’m saying it? I’ll say it loud and clear. I’m not happy about it.”
In the second quarter (Q2) of 2026, ExxonMobil’s profits more than doubled to $14.1 billion.
Chevron also reported $12 billion profit in the same quarter, representing the highest quarterly earnings in about six years.
On July 10, the Wall Street Journal (WSJ) said Aliko Dangote, chief executive officer (CEO), Dangote Group, is a big winner from the US-Iran
