LONDON, Jan 6: Oil prices eased off recent highs on Monday after the Opec oil cartel signalled it could soon start pumping more crude oil to try to calm a market nervous about a strike in Venezuela and a possible war in Iraq.

The price of benchmark Brent North Sea crude oil for February delivery dropped to $30.45 a barrel in late trading from $30.77 at the close of the previous session.

In New York, the price of reference light sweet crude for February delivery fell by 88 cents to $32.20 in early deals.—AFP