Amid worries that OPEC (OPEC) to increase crude oil export volume, the New York Mercantile Exchange crude oil futures closed down 24.
Among them, the March crude oil futures fell $ 1.24, or 1.4%, to $ 87.87 / barrel.
Saudi Oil Minister Ali Naimi (Ali al-Naimi) Monday night is expected, oil prices will continue to stabilize in 2011.
Naimi said the average daily global oil demand in 2011 is expected to increase 150-180 million barrels. Global oil demand will mainly come from China, India. U.S. demand will slightly increase.
It should be noted that, Naimi also said that about 60% of Saudi crude oil exports go to Asia. Saudi Arabia and exports to Asia the next few years is expected to grow further.
Naimi believes that non-OPEC countries are expected to continue to increase crude oil output, crude oil surplus production capacity in 2011 expected to be approximately 400 million barrels / day; and expected OPEC spare capacity remained at 600 million barrels / day.