Chevron CFO responds to Trump's criticism: Oil prices need time to fall, the industry is "doing its utmost"
- Event Background: Recently, US President Trump singled out Chevron, ExxonMobil, Shell, and BP, criticizing major oil companies for gasoline prices that "should be much lower at gas stations." He accused them of not lowering gasoline prices in line with the recent drop in crude oil prices, suggesting they are "hurting" consumers. Trump has ordered the Department of Justice to "immediately" investigate this matter.
- Chevron Response: Chevron Chief Financial Officer Bonner told CNBC on Thursday that energy giants are "doing everything possible" to address price concerns and have great sympathy for consumers. However, she explained that the transmission of crude oil prices to gas stations takes time, and as the situation in the Middle East continues to normalize, gasoline prices are expected to gradually decline. She also pointed out that Chevron's production this year will increase by 7% to 10%, and the company will continue to optimize its operating leverage during the conflict.
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