OIL SLIPPED BACK TOWARDS $67 A BARREL ON FRIDAY ON SIGNS NIGERIA WOULD SOON RESTORE SOME LOST OUTPUT, BUT WORRIES THAT TOP CONSUMER THE UNITED STATES MAY RUN SHORT OF GASOLINE THIS SUMMER GAVE THE MARKET A SOLID FLOOR, ACCORDING TO REUTERS. THE HEAD OF ROYAL DUTCH SHELL'S EXPLORATION AND PRODUCTION DIVISION TOLD REPORTERS IN PARIS THE COMPANY HOPED TO RESTART THE SMALLEST OF ITS NIGERIAN OILFIELDS SOON, ALMOST TWO MONTHS AFTER REBELS HALTED A QUARTER OF NIGERIAN PRODUCTION. U.S. CRUDE OIL FUTURES SETTLED 55 CENTS LOWER AT $67.39 A BARREL, HAVING CLOSED ON THURSDAY AT THEIR HIGHEST LEVEL SINCE JAN. 30. LONDON BRENT CRUDE FELL BY THE SAME AMOUNT TO $67.29 AFTER HITTING A SEVEN-MONTH HIGH ON THURSDAY. 'WE HAVE GOT TO GO AND REVIEW THE ASSETS (OF THE EA FIELD) WHEN THE SECURITY SITUATION ALLOWS BUT I AM HOPEFUL THAT WILL BE SOON,' SHELL'S E&P BOSS MALCOLM BRINDED SAID. NIGERIAN MINISTER OF STATE FOR PETROLEUM EDMUND DAUKORU, ALSO IN PARIS, SAID THE MOVE SHOULD HELP TO MODERATE OIL COSTS THAT ARE WITHIN SIGHT OF THEIR $70 RECORD AND AT THEIR HIGHEST LEVEL FOR A QUARTER OF A CENTURY IN REAL TERMS. 'OIL PRICES SHOULD BE IN THE UPPER $50S TO LOWER $60S. ANYTHING ABOVE $65 AND EVERYONE GETS TENSE,' HE SAID.
