Leaders from the US Departments of Interior and Energy will hold a conference call on Thursday with the CEOs of several energy companies, including Exxon and Chevron, to discuss their ability to increase oil and gas production, said an administration official, as the conflict with Iran drives up global energy prices.
These prices, reaching levels not seen since the aftermath of Russia’s invasion of Ukraine in 2022, pose a risk for President Donald Trump’s Republican camp as the mid-term elections approach in November.
Global oil prices surged by around 4.6% on Thursday to surpass $99 per barrel, with operators skeptical that peace talks between the US and Iran can resolve the disruptions to energy supplies in the Middle East caused by the war.
The call is organized by the White House, home to the National Energy Dominance Council, a group formed by President Donald Trump and led by Interior Secretary Doug Burgum and Energy Secretary Chris Wright. The information was initially reported by Politico.
Taylor Rogers, White House spokesperson, did not specifically confirm the meeting but noted that the two secretaries are in constant contact with industry leaders in the oil and gas sector.
“Since day one, the President has called on companies to drill tirelessly,” Rogers said in an emailed response.
Exxon and Chevron did not immediately respond to requests for comments. (Reporting by Timothy Gardner, with the contribution of Sheila Dang in Houston; Editing by Nick Zieminski)
