Trump Targets ExxonMobil and Chevron Over Record Oil Profits

US President Donald Trump has criticized major oil producers ExxonMobil and Chevron for their record quarterly earnings, which have been fueled by the Iran conflict's impact on global oil markets. Trump said that consumers should not bear the burden of higher fuel prices, as both companies reported massive profits despite crude oil prices falling from $120 per barrel to around $85.

ExxonMobil and Chevron earned approximately $14.5 billion and $12.2 billion in second-quarter profit, respectively, exceeding $26 billion combined. Trump directly criticized the earnings, stating 'They're making too much money based on a shortage... I don't like it.' He urged energy companies to reduce retail fuel prices instead of keeping higher profit margins.

Trump's comments came shortly before BP announced that its quarterly profit had doubled, with environmental organizations criticizing the massive earnings reported by oil companies. Campaigners argue that consumers continue to struggle with rising energy bills while fossil fuel producers report record profits.