UPDATE 1-Total CEO sees no steep oil price fall

(updates throughout)

PARIS, Feb 13 (Reuters) - The head of French oil company Total (TOTF.PA: Quote, Profile, Research, Stock Buzz) said on Wednesday he did not expect any sharp decline in the price of oil, now trading above $92 a barrel, or in oil demand.

"I can't say what the price will be," Christophe de Margerie told reporters, but said he saw no reasons for any steep decline.

"There are all sorts of reasons to say it won't fall... For fundamental and psychological reasons ... it's difficult to consider that there could be a strong downturn."

Oil markets have fallen from a peak of more than $100 a barrel for U.S. crude CLc1 struck at the start of the year in response to expectations of U.S. economic weakness.

But de Margerie predicted oil demand would remain supported by healthy demand from developing countries. (Reporting by Barbara Lewis; editing by James Jukwey)