NYMEX crude falls more than $1 to below $100.84

SYDNEY (Reuters) - Oil fell more than $1 to less than $101 barrel on Monday due to profit taking after OPEC's chief said he expected steady oil prices for the rest of 2008.

The remarks added to growing worries that a recession in top consumer the United States would cut global energy demand.

U.S. light crude for May delivery fell $1.23 to $100.61 a barrel in Globex electronic trading by 7:35 p.m. EDT. It had settled down 70 cents at $101.84 a barrel on Friday, after falling as low as $98.65 earlier in the session.

Petroleum prices will range between $80 and $110 per barrel for the rest of 2008, OPEC President Chakib Khelil said on Saturday.

(Reporting by Fayen Wong, editing by Jacqueline Wong)