Oil market analysts on Thursday largely dismissed the possibility of coordinated production cuts by OPEC and Russia, saying the market’s early positive reaction was based on false hope. “Talk of an OPEC cut is likely no more than an attempt to shift market sentiment. We remain skeptical about a change,” said Michael D. Cohen, commodities analyst at Barclays in New York in a note to clients headlined “False Hope”. Oil prices rose more than 5 percent on Thursday on reports of Russian Energy Minister Alexander Novak’s comments suggesting Saudi Arabia had proposed output cuts of up to 5 percent to lift oil prices. The market then retreated after media outlets cited Gulf sources saying there were no plans to implement such cuts. […]