World oil prices fell in London but held firm in New York after the Organisation of Petroleum Exporting Countries (OPEC) kept its official production quota at 25.8 million barrels of oil per day.
Brent North Sea crude for April delivery slid 24 cents to $60.82 per barrel in electronic deals, reversing earlier gains.
New York's main oil futures contract, light sweet crude for delivery in April, added 19 cents to $58.35 per barrel in floor trading.
OPEC, satisfied with the price and demand-supply balance for oil, held its official production quota at 25.8 million barrels of oil per day.
In its written statement the 12-member cartel decided against an explicit announcement regarding its output decision, focusing instead on volatility.
'Although all indicators clearly show that the market remains well-supplied with crude oil ... overall oil market volatility is likely to continue,' OPEC said in an official written statement.
'In light of this volatility, the conference decided to continue closely monitoring market developments to ascertain that oil market stability is achieved and that global economic growth is sustained', it said.
In its monthly report published yesterday, OPEC said that world oil demand would grow by 1.5% in 2007 from the level last year, matching its forecast in January and February.
