Saudi oil minister Ali al-Naimi on Monday called for cooperation among oil producing countries, which should lead to stability in the global oil market.

"Market forces, as well as the cooperation among the producing nations, always lead to the restoration of stability. This, however, takes some time," he said.

"I'm optimistic about the future, the return of stability to the global oil markets, the improvement of prices and the cooperation among the major producing countries," al-Naimi added.