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U.S. President Donald Trump says Exxon and Chevron made “too much money” after higher crude prices lifted oil profits. We look at the factors that pushed energy prices higher and the political considerations behind the president’s desire for lower consumer costs.
In the past week, Chevron reported second-quarter 2026 results showing revenue rising to US$70.06 billion and net income to US$12.07 billion, alongside a maintained quarterly dividend of US$1.78 per share. The earnings surge, driven by higher production, early cost reductions and war-inflated refining margins, has drawn sharp political scrutiny over so-called windfall profits and gasoline prices. Next, we’ll examine how Chevron’s stronger margins and early cost-cut targets may alter its...
Exxon just delivered its strongest quarterly profit in four years and rewarded shareholders with a 44% annual rally, but surging share prices and a troubling free cash flow drop are setting up a collision that could determine whether the stock climbs or crumbles from here.
Brent crude fell back to around $80 per barrel after renewed optimism over a potential US-Iran draft agreement eased geopolitical fears
Integrated energy company Chevron (NYSE:CVX) reported revenue ahead of Wall Street’s expectations in Q2 CY2026, with sales up 56.3% year on year to $70.06 billion. Its non-GAAP profit of $6.06 per share was 8.8% above analysts’ consensus estimates.
XOM's Q2 earnings missed estimates, but strong production, oil prices and balance sheet strength support its outlook.
These relatively safe dividend stocks offer yields of more than 3%.
The two oil majors combined to earn $29 billion in the second quarter as crude prices surged following the U.S.-Israel attack on Iran
Stephen Schork, principal and editor at The Schork Group, says refiners have virtually no ability to increase capacity and deliver more gasoline and diesel products and lower costs for consumers. President Donald Trump scolded ExxonMobil Holdings Corp. and Chevron Corp. Monday for making too much money as oil prices surged amid the war in Iran.
(Bloomberg) -- Refineries outside of conflict zones are running at full tilt across the world and there are few shock absorbers left in the system to protect against higher fuel prices, the world’s biggest oil company Saudi Aramco said.Most Read from BloombergBeer Dynasty Families Sell €731 Million Stake in AB InBevTaco Bell Met With Michigan on Parasite Weeks Before RecallApple’s New CEO Taps Retired Hardware Executive for Management TeamMamdani Dismisses Business Leaders Advising NYC’s Mayor’s
Wall Street futures were given a new boost ahead of another packed earnings session, helped by a renewed fall in oil prices as hopes of a deal with Iran resurfaced. Dow Jones futures were up 453 points, or 0.9%, while those for the Nasdaq gained 0.9%. S&P 500 futures were 0.2% higher,...
The British energy giant posted $3.91 billion in net profit for the second quarter, up from $1.62 billion a year earlier
Warren Buffett's five biggest public bets have all moved sharply this year, but not in the same direction, and the gap between where he bought and where these stocks trade now tells a very different story for each one.
Stock futures were rising on Tuesday, putting the on the brink of a record high as tech extended its recent rebound. Palantir was the S&P 500’s best performer ahead of the opening bell, surging 16% after the data analytics software developer reported strong second-quarter earnings. CEO Alex Karp described the quarter as “otherworldly,” as U.S. commercial revenue rose 149% from a year ago.
British energy giant BP said on Tuesday that its net profit more than doubled in the second quarter as the Middle East war roiled oil and gas markets.View on euronews
British energy giant BP said Tuesday that its net profit more than doubled in the second quarter as the Middle East war roiled oil and gas markets.Energy majors around the globe are enjoying soaring profits from their trades as oil and gas futures swing between big gains and losses on the latest headlines linked to the Mideast war.
I have covered the energy market's evolution through the Iran-Iraq War, from Chevron CEO Mike Wirth's early warnings about depleting buffers to Shell's CEO describing the diesel and gasoline squeeze that emerged as refineries pivoted to jet fuel. On July 31, ExxonMobil Chairman and CEO Darren ...
SCHD charges just 0.06% per year, but taxable investors who lived through the March reconstitution discovered a second bill arriving in a very different form. Here is what the expense ratio line was never designed to show you.
<body><p>STORY: :: Trump blasts Chevron and ExxonMobil for 'making too much money' from higher fuel prices</p><p>:: Washington, D.C. / August 3, 2026</p><p>"They're making too much money. Based on a shortage, they're making too much money. I don't like it."</p><p>"And when we're finished with Iran, you're going to see the prices drop through the floor. But they made too much money. Chevron, too much money. ExxonMobil too much. Too much money. When you look at one company, where they made 12 times what they made the year before? They ought to give some of that back to the public. And they better cut the retail price. The consumer price. Too much money. You're surprised I'm saying it? I'll say it loud and clear. I'm not happy about it."</p><p>Exxon and Chevron did not immediately respond to requests for comment.</p><p>While global oil prices plunged after Trump called off a planned "massive attack" on Iran over the weekend, prices at the gas pump tend to lag and do not necessarily follow suit.</p><p>Higher gas prices fueled by the Iran war and cost-of-living concerns pose a political risk to Trump ahead of November's midterm elections when his fellow Republicans are seeking to retain control of Congress. Retail gasoline prices, currently averaging around $4.10 nationwide, have climbed more than 30% since the U.S. and Israel attacked Iran earlier this year.</p></body>
But what can Trump actually do?
Chevron is looking at a way to move oil out of the Middle East without ever touching the Strait of Hormuz. CEO Mike Wirth confirmed the energy behemoth is studying a cross-border pipeline concept that would carry crude north through Iraq, then on to either Syria or Turkey, before reaching the ...
Trump criticized Exxon and Chevron for windfall profits tied to the Iran war and demanded lower gas prices for consumers.
President Trump called out the nation's two largest oil companies, accusing ExxonMobil and Chevron of "making too much money" during the Iran war.
Donald Trump said Exxon Mobil and Chevron earned excessive profits as oil prices surged during the Iran war.
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