Trump Slams Oil Giants for 'Excessive Profits' from Iran Conflict

US President Donald Trump criticized major oil companies Chevron and Exxon Mobil for making 'too much money' from the conflict in Iran, citing second-quarter results that showed their profits have more than doubled.

In a statement at the White House on Monday, Trump said: 'I don't like it. They're making too much money, okay? Based on a shortage, they're making too much money.'

Trump specifically targeted Chevron and Exxon Mobil, saying both companies were profiteering from the crisis in the Middle East.

According to AFP, Exxon Mobil's profits rose to $14.5 billion for the second quarter, more than double its figure for the same period last year. Chevron reported a profit of $12.1 billion, which is over five times its previous quarterly earnings.

In June, Trump ordered an investigation into possible 'gouging' by the oil industry, and he has now called on companies to lower prices paid by consumers.