Brent slips below $114 as Syria concerns ease
* British parliament says no to Syria strike
* Unrest in Libya continues to cripple crude output, exports
* Saudi Arabia to pump record crude volume in Q3 - PIRA
* Coming up: U.S. CFTC commitment of traders weekly data; 1930 GMT
SINGAPORE, Aug 30 (Reuters) - Oil fell by more than 1 percent on Friday, pushing Brent below $114 a barrel, as fears over supply disruptions in the Middle East eased slightly after Britain said it will not join any military action against Syria.
Britain's decision was the latest setback to U.S.-led efforts to punish Damascus over the use of chemical weapons against civilians.
Brent crude for October slid to a low of $113.63 a barrel and was down $1.25 at $113.91 by 0224 GMT, extending a 1.2 percent fall on Thursday.
U.S. crude for October delivery fell $1.50 a barrel to $107.30 after hitting a low of $106.75.
"Crude prices may have overshot due to the unrest in the Middle East," said Yusuke Seta, a commodity sales manager at Newedge Japan. "We are still not sure when the U.S. will start military action."
Investors also took the chance to book profits ahead of a U.S. holiday on Monday, analysts said, after prices hit multi-month highs earlier this week when the United States and its allies mooted a military strike on Syria.
Oil prices are on track to rise for a third month since May, supported by geopolitical tensions in the Middle East and supply disruption from the North Sea to Libya.
The U.S. Energy Information Administration said earlier this month that global supply disruptions reached 2.7 million barrels per day in July, with many analysts estimating outages have risen since then.
Libya's crude exports have shrunk to just over 10 percent of capacity from three ports, out of a possible nine, as armed groups have tightened their grip on its major industry. Maintenance in Iraq in September is also expected to cut supplies.
"Brent will be supported mainly due to supply disruption," Newedge's Seta said, although more oil from Saudi Arabia and the possibility of an emergency oil stocks release by the International Energy Agency capped price gains.
Saudi Arabia, the world's largest oil exporter, is set to pump a record 10.5 million bpd of crude in the third quarter, to help balance the market, U.S. energy consultancy PIRA said.
The International Energy Agency said on Thursday oil markets were currently well supplied and did not warrant any action by the West's energy watchdog despite a recent spike in prices.
"Market participants are starting to become a bit concerned over higher oil prices and the potential impact on the recent global economic recovery," ANZ analysts said in a note.
"We think this is a little premature, given markets are adequately supplied and Saudi Arabia has enough spare capacity to be able to supply the market if a major supply disruption does occur."
(Reporting by Florence Tan; Editing by Richard Pullin)