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Singapore (ANTARA News) - Oil prices eased on Monday after the United Nations chief said top OPEC crude producer Saudi Arabia agreed to increase production and does not want to be blamed for the impact of soaring prices. New York's main oil futures contract, light sweet crude for July delivery, was 71 cents lower at $134.15 a barrel.

The contract closed at $134.86 after shedding $1.88 on the New York Mercantile Exchange Friday.

Brent North Sea crude for August delivery dropped 59 cents to $134.52.

Prices have soared since breaking through the $100 level at the start of the year, and hit all-time highs of $139.12 in New York and $138.12 in London on June 6.

Global finance officials fear the high oil prices pose a threat to world economic growth, while truckers and others in Europe and Asia have held protests against the rising cost of fuel.

UN Secretary General Ban Ki-moon, after a weekend visit to Saudi Arabia, said Saudi Oil Minister Ali al-Nuaimi told him Riyadh would raise production by 200,000 barrels a day in July on top of a hike of 300,000 barrels made in June.

"They will respond positively whenever there is a request from their customers, so there is no shortage," Ban was quoted by Thomson Financial as saying.

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