Exxon Mobil and Chevron are pushing back on "shortsighted" investors and maintaining their growth plans even as they feud amongst themselves.

President Trump’s trade policies have helped to push down oil prices while raising the costs of materials for oil and gas companies.

Chevron said net income fell by just over a third to $3.5bn in the first quarter, down from $5.5bn a year earlier, and slightly below analysts’ consensus estimates. Revenues fell to $47.6bn, down from $48.7bn a year earlier, as its global production remained flat.