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Commodities

Trump Slams Big Oil for Profiting from Iran War Shortages

Guavy AI Editorial Team
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US President Donald Trump criticized major oil companies on Monday for profiting from higher crude oil prices caused by shortages linked to the war with Iran.

Trump made these comments during a White House press conference, stating 'I don't like it. They're making too much money based on a shortage.'

The remarks come as Iranian Oil Minister Mohsen Paknejad revealed last month that Iran had generated $11.5 billion in oil sales during the war and an additional $6.5 billion during the ceasefire period.

Paknejad attributed this increase to lower risks to oil tanker traffic, which allowed Iran to sell part of its stockpile of about 100 million barrels of crude oil and gas condensate.

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