Exxon Mobil and Chevron are pushing back on “shortsighted” investors and maintaining their growth plans even as they feud with each other.

Chevron Corp. will reduce share buybacks this quarter after oil prices tumbled, indicating that President Donald Trump’s trade war is hurting a key US industry he pledged to help.

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