🔶 Trump Says Oil Companies Are Making “Too Much Money” Amid Iran War

Donald Trump says oil companies such as Chevron and ExxonMobil are “making too much money” because of a surge in prices brought on by the war with Iran. The U.S. president said this on Monday, August 3, in remarks to reporters at the White House, expressing his displeasure about the matter: “I don’t like this, and maybe I’m the last person to say it, because I’m a big fan of free enterprise and a free market.”

Trump continued: “But when we’re done with Iran, you’ll see that the price of oil will fall.”

ExxonMobil and Chevron, two major U.S. oil companies, reported significant profits on Friday, July 31, indicating the positive impact of the war in the Middle East on their revenues.

According to Agence France-Presse, ExxonMobil’s profit in the second quarter of the current year (2026) more than doubled to $14.5 billion, while Chevron’s profit was announced at $12.1 billion; a figure that was more than five times the company’s profit in the same period last year.