Chevron Under Fire as Trump Targets Oil Profits Amid Gas Price Hike

Oil giant Chevron is under scrutiny in the US after President Donald Trump criticized its massive profits amidst rising gasoline prices. According to Google Trends, Chevron was among the most searched companies in the country over the past 24 hours.

The Associated Press reported that oil companies like Exxon Mobil and Chevron have continued to post record-breaking profits despite disruptions in global energy markets due to the conflict in Iran. The Strait of Hormuz, a major route for global oil shipments, was effectively closed during the conflict.

Exxon Mobil's second-quarter profit doubled to $14.5 billion, while revenue rose 42% to $116 billion. Chevron's profit nearly quadrupled to $12 billion, and its revenue increased 56% to more than $70 billion, according to the report.