The oil giant’s stock has rallied more than 4 percent over the past week after President Donald Trump signed an executive order on Wednesday that gives his administration sweeping new powers to roll back environmental regulations and environmental protections.
Exxon Mobil shares are up nearly 10 percent in the past two months.
The stock gained 5.8 percent on Thursday.
The stock rose 1.9 percent on Friday.
The Nasdaq composite gained more than 5 percent, while the S&P 500 gained 5 percent.
The order Trump signed allows the president to rescind federal environmental regulations, rescind the Environmental Protection Agency’s Clean Power Plan and roll back federal environmental protections for drilling and mining, according to The Wall Street Journal.
Trump signed the order on Thursday, two days after the Supreme Court ruled the Environmental Protections Agency could not block drilling and coal mining regulations that the Obama administration imposed to protect public health and the environment.
On Friday, the Trump administration also approved a rule that allows coal companies to expand fracking operations in parts of Appalachia.
Trump signed an order to rollback a number of Obama-era environmental regulations on Thursday and Friday.
EPA regulations require companies to reduce greenhouse gas emissions, reduce pollution from air, water and soil, and improve public health, the White House said.
Environmental groups say the new EPA rules are intended to rollbacks of rules that they say protect the public and environmental health.