Trump met on Tuesday with Chevron and other energy companies

A White House official confirmed that U.S. president Donald Trump had met with top officials from Chevron and other energy companies to discuss a variety of topics including U.S. production, oil futures trading, shipping, and natural gas.

Chevron spokesperson confirmed that CEO Mike Wirth was present at the meeting to discuss the global oil market, which has been?roiled by U.S. and Israeli war against Iran. Treasury Secretary Scott 'Bessent, Trump Chief of Staff Susie Wiles and special envoy Steve Witkoff were all present at the meeting. The first report was by Axios.

Trump's Republican colleagues face a high risk of oil price increases ahead of the November midterm elections.

The White House official stated that "the?executives spoke highly of President Trump's actions to unleash American energy dominance and said that the President is currently doing all the right thing."

Last week, the Trump administration granted a 90 day waiver extension to a shipping law known as the Jones Act. This will allow foreign flagged vessels to transport commodities like oil products and fertilizer between U.S. port.

This month, the administration has also invoked the Defense Production Act to authorize the Pentagon and Department of Energy to make purchases in order to 'expand domestic energy' to try to lower the prices for consumers.

According to a White House official, Trump regularly meets with energy executives in order to get their feedback on the domestic and global energy markets.

In an effort to lower fuel costs, the administration could take additional steps. These include relaxing pollution regulations in refineries. Reporting by Timothy Gardner, writing by Susan Heavey, editing by Doina Chiacu & Chizu Nomiyama

(source: Reuters)