Trump Slams Exxon and Chevron Over 'Excessive' Oil Profits

US President Donald Trump expressed his discontent over the windfall profits made by ExxonMobil and Chevron during the recent Iran conflict. The conflict led to a significant increase in crude oil prices, with US crude averaging $92.45 from April through June, a 27% jump from the first quarter.

ExxonMobil's profits more than doubled to $14.5 billion compared to $7.1 billion in the year-ago period, while Chevron's earnings soared nearly 400% to $12 billion compared to $2.5 billion in the same period last year.

Trump stated that he doesn't like the fact that these companies are making 'too much money' based on a shortage and urged them to give some of their profits back to the public and cut retail prices.