Trump met with oil firms on possible months-long extension of Iran blockade

WASHINGTON: U.S. President Donald Trump met with top officials from Chevron and other energy companies on Tuesday to talk about steps that could be taken to calm oil markets if it is necessary to continue the blockade of Iranian ports for months, a White House official said on Wednesday.

The talks centered on U.S. oil production, oil futures, shipping and natural gas, the official said.

Chevron’s spokesperson said its CEO Mike Wirth attended the gathering to discuss global oil markets, which have been roiled by the U.S.-Israeli war against Iran.

Vice President JD Vance, Treasury Secretary Scott Bessent, Trump’s Chief of Staff Susie Wiles, special envoy Steve Witkoff and Trump’s son-in-law Jared Kushner were also at the meeting, which was first reported by Axios.

High oil prices are a risk for Trump’s fellow Republicans ahead of the midterm congressional elections in November.

“The executives all spoke highly of the actions President Trump has taken to unleash American energy dominance, and said the President is doing all the right things right now,” the White House official said.

The Trump administration last week granted a 90-day waiver extension to a shipping law called the Jones Act to allow foreign-flagged vessels to move commodities such as oil products and fertilizer between U.S. ports.

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The administration this month has also invoked the Defense Production Act authorizing the Pentagon and the Department of Energy to take actions including purchases to expand domestic energy in an attempt to lower prices for consumers.

The White House official said Trump meets regularly with energy executives to get their feedback on domestic and global energy markets.

The administration could take additional steps including relaxing pollution regulations at refineries, in an attempt to lower fuel prices.