Crude oil prices eked out minor gains on Asian trade Friday as the market adopts a cautious attitude considering the possibility that large oil producers may discuss a coordinated output cut to salvage prices. Oil prices rose sharply overnight after Russia’s energy minister was reported by Russian news agencies as saying the world’s major oil-producing countries could meet in February to discuss a possible 5% cut in output . But the gains quickly faded after a senior official from the Organization of the Petroleum Exporting Countries refuted the claim of an emergency meeting or a possible cut. On the New York Mercantile Exchange, light, sweet crude futures for delivery in March traded at $33.91 a barrel at 0611 GMT, up $0.69 in the Globex electronic session. March Brent crude on London’s ICE Futures exchange rose $0.79 to $34.68 a barrel. “The move will likely have minimal impact on oil […]