Delegates from the Organization of the Petroleum Exporting Countries on Thursday said there were no plans to hold talks with Russia over potential production cuts, Bloomberg reported. Oil futures gave back a large chunk of the sharp rally scored earlier in the session on talk Russia and OPEC would meet next month to coordinate policy. West Texas Intermediate futures for March delivery on the New York Mercantile Exchange were up 92 cents, or 2.8%, at $33.21 after trading as high as $34.82 in earlier activity. April Brent crude on the ICE exchange was up $1.15, or 3.4% at $35.09 a barrel after trading as high as $36.77.
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