Total CEO says $76 oil too high given low demand

NEW YORK, Nov 12 (Reuters) - The chief executive of French oil major Total SA (TOTF.PA) said on Thursday that low global demand does not justify the current high price for oil, above $76 a barrel.

"Today the price of oil may be $70 or $80, tomorrow it may even be $90," Total CEO Christophe de Margerie said after a panel discussion at Columbia University in New York. "But I'll tell you this. If you look at supply and demand, the price should be lower."

U.S. crude futures settled on Thursday at $76.94 a barrel, down $2.34. Total is the No. 4 oil major in the world.

(Reporting by Joshua Schneyer, editing by David Gregorio)