Trump says Exxon and Chevron made 'too much money' off high oil prices during Iran conflict: 'I don't like it'

CNBC Monday 03 August 2026, 18:41 UTC 1 min read

Key Points

US President Donald Trump speaks before signing an executive order in the Oval Office of the White House in Washington, DC on August 3, 2026. Jim Watson | Afp | Getty Images President Donald Trump said Monday that ExxonMobil and Chevron made too much money as crude oil prices rose due to the Iran war. "They're making too much money based on a shortage," Trump said. "I don't like it." Exxon and Chevron on Friday reported windfall profits for the second quarter. Chevron's earnings soared nearly 400% to $12 billion compared to $2.5 billion in the same period last year. Exxon's profits more than doubled to $14.5 billion compared to $7.1 billion in the year-ago period. This is breaking news. Please refresh for updates.

Trump (ORG) Exxon (ORG) Chevron (ORG) Iran (LOCATION) US (LOCATION) Donald Trump (PERSON) the Oval Office of the White House (LOCATION) Washington, DC (LOCATION) Jim Watson (PERSON) Getty Images (ORG) ExxonMobil (ORG) the Iran war (EVENT)

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Trump says Exxon and Chevron made 'too much money' off high oil prices during Iran conflict: 'I don't like it'

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