Oil was down in Asian trade today amid speculation that OPEC may boost crude supplies despite faltering energy demand. New York's main contract, light sweet crude for July delivery, lost 52 cents to 98 dollars and 49 cents a barrel. Brent North Sea crude for July delivery dipped 41 cents to 114.07 dollars.Today the focus is on the OPEC meeting, as other countries including Saudi Arabia want to hike production and keep prices lower. Reports say, only Iran and Venezuela may not want to hike production and want to keep prices higher.The 12-nation Organisation of the Petroleum ExportingCountries (OPEC) oil cartel will meet tomorrow in Vienna amid growing fears that high crude prices could further dent world economic growth and energy demand. The oil cartel pumps about 40 per cent of global supply.