London — Oil prices slipped on Monday as concerns about supply disruptions eased and Libyan ports reopened while traders eyed potential supply increases by Russia and other oil producers. But global supply remained tight with investors wary over the impact of production losses in several exporting countries. "There are mixed supply signals," said Kim Kwang-rae, analyst at Samsung Futures. Brent crude was down 30c at $75.03 a barrel by 7.50am GMT. US light crude was down 50c at $70.51. Supply outages in Libya, a labour dispute in Norway and unrest in Iraq all helped push oil prices higher late last week, although prices still fell for a second straight week. Russia and other oil producers may raise output by 1-million barrels a day or more if shortages hit the market, Russian Energy Minister Alexander Novak said. "If we need more than 1-million barrels a day, I don’t rule out that we can quickly discuss it and make a quick decision," Novak told reporters on Friday. Production at Liby...
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