What specific oil company profits did Trump criticize, and what did he demand they do in response?

Trump criticized ExxonMobil and Chevron for 'making too much money'—citing ExxonMobil's $14.5bn second-quarter profit (double year-on-year and its highest since Russia's 2022 invasion of Ukraine) and Chevron's record $12.2bn quarterly profit (a fivefold increase from the same period last year)—and demanded they 'give some of that back to the public' and 'cut the retail price, the consumer price.'

How did BP's CEO respond to Trump's criticism of oil company profits, and what key point did she emphasize about pricing?

BP CEO Meg O’Neill told CNBC she understood household pressures but stressed that BP sells a 'global commodity,' and 'the product we sell hangs off that global commodity price,' directly attributing retail fuel prices to international market dynamics rather than corporate pricing decisions.

Trump Accuses Oil Companies of 'Making Too Much Money' Amid Iran Conflict

Aug 4, 2026

President Trump criticized major oil companies for record profits driven by energy market disruptions linked to Iran conflicts, demanding lower consumer prices while the administration investigates potential price gouging.

theguardian

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