LONDON (AFP) - Oil prices dropped on Tuesday amid recent volatile trade and as the dollar rose against the euro, analysts said. New Yorks main contract, light sweet crude for May delivery, shed 51 cents to 81.09 dollars a barrel. Brent North Sea crude for May was down 48 cents to 80.06 dollars a barrel at 1145 GMT. The dollar edged up against the euro, which was weighed down by uncertainty over the Greek debt crisis heading into a crunch EU summit this week, dealers said. As oil is traded in dollars, a stronger US currency makes the commodity more expensive to holders of weaker units and tends to dampen crude demand, leading to lower prices. The oil market experienced a roller-coaster start to the week, before closing higher above 81 dollars in New York on Monday. The US contract had fallen under 80 dollars early on Monday as the dollar rallied. But prices recovered as the greenback lost steam against the euro despite the widespread uncertainty over the outcome of the crisis in Greeces public finances that has rocked confidence in Europe. The (oil) market is still well supported, though volatility is on the rise, VTB Capital analyst Andrey Kryuchenkov said on Tuesday. OPEC ministers had on Monday warned against financial speculation on oil markets, fuelled by the uncertain global economic recovery and sudden booming demand in emerging economies. The president of the Organization of Petroleum Exporting Countries and ministers from Qatar and the United Arab Emirates said that they were striving for stable and optimum prices in the wake of the volatility triggered by the global financial crisis. OPEC president and Ecuadoran Resources Minister Germanico Pinto told a United Nations conference in Geneva that although the oil market had moved to a more realistic and stable oil price, pressures for extreme volatility remained. Oil prices plunged from record highs close to 150 dollars a barrel in July 2008 to below 40 dollars within months with the onset of the financial crisis, before clawing back some lost ground to current levels. Elsewhere on Tuesday, Cairn Energy said its Indian operations had the potential to pump significantly more oil than previously expected. The British group said its oil field in Rajasthan, India, was capable of producing up to 240,000 barrels of oil a day, up from a previous forecast of 175,000 bpd.