Brent crude LCOc1 slipped towards $57 after an early rise above $58 on Friday, as the glut of oil that has halved prices since June overshadowed investors repositioning at the start of the year for an eventual recovery. Brent has fallen to its lowest since 2009 as top exporter Saudi Arabia has declined to cut production in the face of fast-growing U.S. shale oil output, despite pleas from other members in the Organization of the Petroleum Exporting Countries (OPEC). “Nothing has changed on the supply side. Unless there are some supply cuts, oil markets can’t be strong at the moment,” said Ken Hasegawa, commodity sales manager at Tokyo’s Newedge Japan. Brent crude LCOc1 for February delivery was down 24 cents at $57.09 at 0843 GMT (0343 ET), almost $1.50 below the day’s high at $58.54, which was hit within 30 minutes of the open of trading. […]