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* Market eyes Greece's vote on tax hikes, spending cuts
* China signals doubt inflation target would be met
* Gulf oil output unlikely to fall on IEA move
By Zaida Espana
LONDON, June 27 (Reuters) - Brent crude futures dipped again in a volatile session on Monday ahead of a vote in Greece to approve an unpopular austerity plan vital to securing a new bailout.
Brent crude futures were 17 cents lower at $104.95 a barrel by 1514 GMT, having plumbed earlier lows of $102.28. U.S. light crude futures fell 56 cents to $90.60 a barrel, after touching lows of $89.61 earlier.
Prices dipped again after a weaker dollar supported a brief rally, with the focus firmly on Greece's fiscal woes.
A Greek minister warned of a "catastrophe" as the country's parliament started the debate on Monday to discuss the 28 billion-euro austerity package ahead of the ballot Wednesday if the measures are not approved.
Worries about a slowdown in China also resurfaced after Premier Wen Jiabao signalled for the first time the country would struggle to meet its 4 percent inflation target this year.
Oil prices have lost around 10 percent over the last three sessions since the International Energy Agency surprised the market with a 60 million barrels release to rein in prices.
The IEA issued details of the breakdown of the stocks release with the United States making available 30 million barrels of crude; Japan and South Korea releasing 7.4 million barrels of crude and 3.96 million barrels of refined oil products and Europe releasing 4.2 million barrels of crude and 15 million barrels of products.
IEA, OPEC SUPPLY
Brent crude prices fell after the IEA surprised the market with a decision to release oil from strategic reserves for the third time in history to replace Libyan supply.
The IEA's decision to release 2 million barrels per day over 30 days is more than the daily loss of Libya's 1.2 million bpd exports, and may help ease concerns that the Organization of the Petroleum Exporting Countries (OPEC) will struggle to meet demand as consumption from emerging nations surges.
"The near-term impact of the availability of these reserves is bearish crude flat price and structure, with the light-sweet grades getting hurt the most, Brent crude in particular," Morgan Stanley analysts led by Hussein Allidina said in a note.
Analysts said the relations between OPEC and the IEA seem progressively more tense, which could add volatility to prices.
"The increasingly strained relationship between OPEC and the IEA also represents major uncertainty to the oil market, which could support a medium-term and long-term bullish outlook for the oil market," James Zhang from Standard Bank said.
Gulf oil exporters are unlikely to cut production in response to the IEA's stock release because demand for their crude is strong, two Gulf OPEC delegates said on Sunday. The group failed to agree on raising output on June 8.
On Monday Iran meanwhile said it saw no need to supply the oil market with extra crude, caretaker oil minister Mohammad Aliabadi told reporters on Monday, adding he was concerned about the principle of consumer nations' releasing strategic reserves.
"The market is under normal conditions. Supply and demand are desirable. There is no additional need for supply in the market," he told reporters before an OPEC meeting with European Union officials for their annual exchange on energy issues. (Additional reporting by Florence Tan in Singapore; editing by James Jukwey) ))