West Texas Intermediate crude fell as the International Monetary Fund cut economic growth projections for China, the world’s biggest energy-consuming country, and on concerns that the Federal Reserve will pare debt purchases.

Futures dropped as much as 1.9 percent after the IMF said China will expand about 7.75 percent this year and next. The U.S. is due to sell $35 billion of five-year notes today after a two-year auction yesterday drew the fewest bids since February 2011. That was the first offering since Fed Chairman Ben S. Bernanke said last week the central bank could curb the pace of its purchases if the economy improves. OPEC won’t change its output target this week, delegates said.

WTI crude for July delivery declined $1.28, or 1.3 percent, to $93.73 a barrel at 11:27 a.m. on the New York Mercantile Exchange. The volume of all futures traded was 10 percent above the 100-day average for this time of day.

Brent oil for July settlement fell $1.16, or 1.1 percent, to $103.07 a barrel on the London-based ICE Futures Europe exchange. Volume for all contracts was 18 percent lower than the 100-day average.

The European benchmark grade traded at a $9.34 premium to WTI futures. The spread ended yesterday at $9.22, the widest based on closing prices since May 15.