Oil trims gains as Iran shuns talk of output cuts

By Devika Krishna Kumar NEW YORK (Reuters) - Oil prices trimmed early gains on Friday on a report that Iran would not participate in a possible deal between OPEC and other producing countries to trim output. Oil retraced some early gains and briefly turned negative, after the Wall Street Journal reported that an Iranian oil official said the country would not join an immediate OPEC production cut. The paper said Iran wants to boost crude exports by 1.5 million barrels a day.