SINGAPORE (Dow Jones)–Crude-oil futures continued their recent slide in Asian trade Monday following bearish comments from the Saudi Arabian oil minister and amid renewed fears that Greece might be forced to leave the euro zone.
The price of Brent should fall to around $100 per barrel as current oil supply outweighs demand, Saudi Arabian Oil Minister Ali al-Naimi said late Sunday, adding that consumption may rebound in the second half of 2012.
“It is very important to recognize that supply today is 1.3 million to 1.5 million barrels per day over demand, …

PARIS: Organisation of Petroleum Exporting Countries (Opec) boosted crude production for a seventh month in April as Iraq, Nigeria and Libya raised output, according to the International Energy Agency (IEA).
The 12 members of the Opec pumped 31.85 million barrels a day of crude last month, up from 31.44 million in March, the Paris-based IEA said in its monthly Oil Market Report.
That exceeds the group’s 30 million output ceiling set in December, including Iraq, and is almost 3 million barrels a day more than April 2011 levels, the agency said.
Opec’s …

May 11 – Oil prices are likely to stay high due to geopolitical risks despite a dramatic improvement in world supply resulting in a big build in stocks, the International Energy Agency (IEA) said on Friday.
The agency, which advises 28 industrialised nations on energy policy, said global oil supply rose 600,000 barrels per day (bpd) to 91 million bpd in April and was now 3.9 million bpd over year ago levels, with 90 percent of the increase coming from OPEC.
But the IEA said in its monthly Oil Market Report …

SYDNEY — Crude oil futures slipped in electronic trading Thursday, putting the commodity on track for seven session losing streak, as disappointing Chinese trade data cast another shadow on the global economy.
Crude-oil for June delivery CLM2 -0.30% edged down 5 cents, or 0.1%, to $96.76 a barrel on the New York Mercantile Exchange during Asian trading hours.
The falls extend the longest downward run for crude since July 2010, as concern about the future of the euro zone dampened expectations for energy demand, and weighed on prices earlier …

SINGAPORE — Oil prices fell to near $96 a barrel Wednesday in Asia, extending a weeklong slump after a report showed U.S. crude supplies jumped more than expected last week, suggesting demand remains weak.
Benchmark oil for June delivery was down 73 cents to $96.28 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 93 cents to settle at $97.01 in New York on Tuesday.
Brent crude for June delivery was down 35 cents at $112.38 per barrel in London.
The American Petroleum …