Chevron, Exxon Decline to Boost Oil Production Despite Trump Admin Requests

Both oil giants said the ongoing energy shortage brought on by the Iran war had not changed their plans.

A Chevron gas station in Los Angeles, Calif., on April 28, 2026. Frederic J. Brown/AFP via Getty Images

ExxonMobil and Chevron have said they won’t boost oil production despite the Trump administration’s calls for them to do so to help address the energy shortage caused by the war with Iran.

Exxon’s chief financial officer Neil Hansen told the Financial Times in an article published on May 1 that there had been “no change” to the company’s strategy in the Permian Basin, the highest producing oil and gas region in the United States.