ExxonMobil and Chevron are resisting pressure from Trump to boost oil output during a global energy crisis.

INTELLIGENCE SUMMARY

ExxonMobil and Chevron are resisting pressure from Trump to boost oil output during a global energy crisis. Despite soaring prices after the Iran war, both companies say they won’t change their strategies, which focus on long-term profits and cash flow rather than rapidly increasing production. Executives argue the disruption is too short-term to justify major shifts, and that production can’t be quickly scaled anyway. Source: FT