Trump Slams Chevron CEO Over $4 Gas, Demands Price Cuts
CVX sits 33% above its 52-week low of $146.49 on light trading volume (0.3× avg).
Summary
President Trump publicly attacked Chevron CEO Mike Wirth on Truth Social, blaming oil companies for gasoline prices above $4 a gallon. The criticism follows Wirth's Fox News interview where he highlighted record U.S. production and refining volumes, and comes just days after Chevron reported a blowout $12.1 billion quarterly profit. Trump also called out Chevron's return to Venezuela and demanded immediate retail price cuts. This direct White House pressure introduces political risk that could affect regulatory or operational decisions, though the industry plans to absorb the criticism. The attack adds a new layer of uncertainty for Chevron, which is already navigating complex global operations and recent strong earnings.
At the time of this announcement, CVX was trading at $194.22 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $386.8B. The 52-week trading range was $146.49 to $214.71. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.