President of Opec, Chakib Khelil on why the decision was made to cut oil production
World oil prices have continued to fall, undermining oil cartel Opec's efforts to steady prices by cutting output by 1.5 million barrels a day.
The decision to cut about 5% of the cartel's total daily output came after an emergency Opec meeting in Vienna.
The move did not halt the sliding oil price with US sweet, light crude down $3.69 at $64.15 after wild swings saw greater falls in earlier trade.
Recession fears have pulled oil down from a high of $147 a barrel in July.
