US President Donald Trump has publicly criticized Mike Wirth, chairman and CEO of Chevron, for not acknowledging the role of his administration in the company’s current success. On Monday, August 3rd, Trump took to Truth Social to assert that without the "genius, foresight, strength, and stability of the TRUMP Administration," the oil industry and the country would be "dead."

Trump referenced an interview Wirth gave to Maria Bartiromo, stating that while Wirth explained why Chevron is doing well, he failed to credit the Trump administration’s contributions. Trump also highlighted Chevron’s return to Venezuela, describing the company as "far bigger and stronger than ever before."

He urged Chevron and other oil companies to immediately reduce consumer fuel prices in the United States, a demand he has made previously. This call comes amid criticism of Trump’s role in initiating the war on Iran, which has affected costs for millions of Americans, and as the November mid-term elections approach.

On Sunday, August 2nd, Trump announced that the US and Israel had agreed to halt new attacks on Iran, contingent on a rapid resolution to the months-long conflict. Despite Trump’s repeated claims that fuel prices would "come down like a rock" after the conflict ends, economists have disputed these assertions, warning of longer-term economic repercussions.

The region remains tense, with fears of renewed escalation after Washington and Tehran exchanged threats of heavy attacks, including on energy infrastructure.

Sources