U.S. Big Oil giants Exxon Mobil and Chevron said May 2 they will steadfastly maintain their spending and stock buyback ranges in the face of tariff uncertainty and lower oil prices—despite reporting declining quarterly earnings year over year.

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

Shares of Chevron Corp. were sinking toward a three-year low in early trading Friday, after the oil and gas giant reported quarterly profit that dropped, but beat expectations, while production was flat and revenue fell short of forecasts.