Saudi Arabia's Oil Minister Ali Al-Naimi said on Thursday that future oil investments should continue to meet an anticipated global growth in crude demand by more than 1 million barrels per day.

"Demand for oil is continuing to rise," Al-Naimi told the Apicorp Energy Forum in the Bahraini capital Manama.

"To meet this growing need, there should be a continuation if not an increase in the pace of investments in the petroleum industry to guarantee the stability of the market on the short and long term."

Meanwhile, a senior official at the UAE Energy Ministry said Oil prices will start improving next year and Opec's decision last year to not cut supplies was the right one.

"We believe that Opec policy is the right one... Next year will see improvement in prices... In 2016 we could witness some correction in the market," Matar Al-Nyadi, undersecretary of the ministry, told the conference. - Reuters