Oil falls towards $49 on high output, strong dollar

By Alex Lawler LONDON (Reuters) - Oil fell towards $49 a barrel on Monday, pressured by high output from Middle East OPEC members and as a stronger U.S. dollar weighed on commodities. Iraq, which has exported more crude from its southern ports in August, will continue ramping up output, its oil minister said on Saturday. Brent crude was 62 cents lower at $49.30 a barrel at 0904 GMT.