Oil falls again as Saudi output remains near record high

Oil prices fell to under $63 a barrel on Monday after Saudi Arabian Oil Minister Ali al-Naimi said production in the world's biggest crude exporter would stay near record peaks around 10 million barrels per day (bpd) in April. Brent crude was trading down 82 cents at $62.63 by 1120 GMT, down from an intraday peak of $64.34. US crude for May delivery was down 42 cents at $55.32 a barrel, down from an early high of $56.65.