oil prices fall back from highs oil prices retreated from fourmonth highs in early trading on tuesday after producers cartel opec said it was now unlikely to cut production following the comments by acting opec secretary general adnan shihabeldin us light crude fell 32 cents to 5143 a barrel he said that high oil prices meant opec was unlikely to stick to its plan to cut output in the second quarter in london brent crude fell 32 cents to 4974 a barrel opec members are next meeting to discuss production levels on 16 march on monday oil prices rose for a sixth straight session reaching a fourmonth high as cold weather in the us threatened stocks of heating oil us demand for heating oil was predicted to be about 14 above normal this week while stocks were currently about 75 below the levels of a year ago cold weather across europe has also put upward pressure on crude prices