SINGAPORE — Oil prices fell below $95 a barrel today in Asia amid investor concern that China’s economy, the world’s second-largest, is slowing faster than previously expected.

Benchmark oil was down $1.33 to $94.80 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 95 cents to settle at $96.13 in New York on Friday.

Brent crude was down 86 cents at $111.40 per barrel in London.

Traders brushed off China’s announcement Saturday that it plans to cut its bank reserve requirement by 0.5 percentage points. The move is designed to boost lending and spark economic growth.

However, investors are worried by signs that China’s economy is faltering. The government said Friday that industrial production growth in April slowed and electricity output was little changed.