Trump says oil majors making 'too much money' from Iran war-driven crude shortage

US President Donald Trump on Monday accused major oil companies of profiting excessively from elevated crude prices caused by supply disruptions linked to the Iran war, saying he did not like that they were "making too much money" from the shortage.

By AFP | Aug 04, 2026, 12.01 AM IST

US President Donald Trump said Monday that major oil companies are making "too much money" due to high prices stemming from the crude shortage caused by the Iran war.
"I don't like it. They're making too much money, okay? Based on a shortage, they're making too much money," Trump told journalists at the White House.

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