OPEC and its partners emphasize that it is necessary to strengthen cooperation, in order to stimulate investments that will guarantee stable oil supply to market, Bloomberg reports.

Energy Ministers from Saudi Arabia, UAE, Kuwait and Oman conducted unofficial meeting on Saturday to discuss market conditions and compliance with output cuts agreement. Ministers pointed at necessity to create healthy market conditions that will stimulate adequate investments volume into energy sector that in turn will guarantee stable and timely supply of oil to satisfy demand and prevent from declines in some parts of the world.

Meanwhile, as Reuters informs, oil prices are falling on Monday due to output increase in the US and expected OPEC production rise.

Brent oil lost 0,4% and costs $76,45 a barrel. It falls for two trading sessions already. WTI oil costs $65,78 a barrel. Last week market lost 3% that added to previous week decline of around 5%.