News In Brief

Mobil cut on what it will pay for oil may push OPEC move

Mobil Corporation says it is lowering the amount it will pay for the major US grade of oil, a move analysts say may increase pressure on OPEC at a time the cartel is trying head off a price war and shore up its $29-a-barrel price. Mobil , which depends on Saudi Arabia for much of its oil, said its move was only a reflection of what had already happened in the oil market and was not a response to the latest round of price cuts by some oil-producing nations.

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