What 'Muslim ban'? Saudi oil minister welcomes Donald Trump election as good for the industry

Saudi Arabia appears unperturbed by the furore over Donald Trump's controversial ban on citizens from seven mainly Muslim nations, as its oil minister hailed US President Donald Trump's election victory as good for the oil industry.

Khalid al-Falih added that Saudi Arabia - the keeper of of Islam's holiest sites in Mecca and Medina - and the US enjoyed a strong relationship covering shared common economic and geopolitical interests.

"President Trump has policies which are good for the oil industries", the minister told the BBC.

The former head of Saudi's state oil company Aramco added that the US leader "has steered away from excessively anti fossil fuel, unrealistic policies by some well intentioned environment proponents".

Al-Falih said what the US wanted was a "mixed energy portfolio that includes oil, gas, renewables and make sure that the American economy is competitive. We want the same in Saudi Arabia".

During Trump's election campaign he pledged to create "complete American energy independence" from "our foes and the oil cartels".

In recent years the US has attempted to boost its shale gas output in a bid to boost its energy self-reliance. But the recent fall in oil prices has made this form of production less economic.

The Saudi oil minister said: "We have no problem with the growth of American indigenous oil supplies. I've said it repeatedly – as long as they grow in line with global energy demand we welcome them. We have billions of dollars invested in refining and distribution in the US and we may be increasing that investment on the back of pro-industry, pro-oil and gas policies of the Trump administration in the US."

Al-Falih added: "The relationship between Saudi Arabia and the US is very, very strong."

At the end of last year Opec nations and Russia agreed two cuts of production, bringing output down by around 1.7 million barrels a day.

Over the past 12 months Brent Crude has lifted almost 60% to around $55 a barrel, although it is far below oil's all-time high of $147.27 (£116.82, €136.53) it hit in July 2008.