President Trump and his top lieutenants convened with oil and gas executives at the White House on Tuesday to discuss the energy fallout from the Iran war, Axios has learned. Chevron CEO Mike Wirth was among the attendees, a company spokesperson confirmed. White House chief of staff Susie Wiles, Treasury Secretary Scott Bessent, and envoys Steve Witkoff and Jared Kushner also participated, per a source familiar with the meeting.
The meeting comes as the ongoing conflict creates an unprecedented disruption to Middle East supply, boosting commodity prices and posing both opportunity and peril for the industry. The White House described the session as part of a frequent dialogue, with a spokesperson noting the president regularly seeks feedback on domestic and international energy markets.
Topics on the table included domestic production, progress in Venezuela, oil futures, natural gas, and shipping, according to the official. Average U.S. gasoline prices stood at $4.18 per gallon on Tuesday, per AAA, reflecting the broader crude oil price surge tied to the historic supply loss.
Trump and Capitol Hill Republicans are now bracing for the political fallout of high gasoline prices, which are directly linked to crude oil markets. The administration's next moves on domestic drilling and diplomatic efforts will be closely watched as the Iran stalemate continues.
The scope of any new policy actions from the White House remains unclear, with no specific commitments disclosed after the meeting. The industry's response to potential output increases could shape both global prices and the political landscape ahead of the next election cycle.