OPEC Slashes Crude, Prices Continue Tumble

OPEC said it will slash oil production by 1.5 million barrels a day to stop tumbling crude prices, but the cost for a barrel of crude still plummeted.

FYI
WHAT IS OPEC?
The Organization of the Petroleum Exporting Countries is an intergovernmental organization made up of 13 oil producing nations.OPEC's mission is to coordinate and unify the petroleum policies of Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital to those investing in the petroleum industry.