Donald Trump likes the oil industry. And it loves him. Donations poured in during the election campaign from companies hoping for a free rein from the president-elect.
Since winning the election, the incoming president has picked an industry leader as his energy secretary – Liberty Energy (US:LBRT) boss and fracking pioneer Chris Wright. North Virginia governor Doug Burgum will also serve as interior secretary, with responsibility for permitting on federal lands, as well as heading a new body called the National Energy Council.
But while US energy companies have opted for shareholder returns over production rises in recent years, one of Trump's pitches to voters on the campaign trail was cheaper petrol prices.