Clipped From The Wall Street Journal
pro- UimiCATIM. OIL SITUATION Drop in Prices Expected hy the O'l Trade Buits 3T to iri bmnller Then in ifli') ' i A material reduction in lubricating oil price by some 'of the big marketers Is alnwt certain in the near future 1 according to oil men, who hy volume of bu.-aness bu.-aness bu.-aness Is now to 40'i smaller than last year. Many marketers, who have sold lubricating oil for automotive use on contrac, I erreed to reduce their selling price in the event of lowe- lowe- .rrude price and are understood to have recently refunded some money to customers on this Vai. It is pointed out that a konn a a reljutment in lubricant prices to meet new condition is effected it wi!i bring about a wider distribution of the product. Some of the biggest lubricating oil manufacturer are large buyrrs of iulf Coat and Pennsylvania crude o l. Gulf CoM crude oil is now selling at $125 a barrel, com pared with $1 is 19-JO, 19-JO, 19-JO, a decline of $1.73 a barrel. Penn sylvania crude at it procnt price of $12. a barrel i-selling i-selling i-selling $2.K.'i a bam I below the level of $6.10 on Janiwn I. The drmand for Ranger, Texas crude oil, which i in demand by lubricant manufacturers, because it yield-cylinder yield-cylinder yield-cylinder !k. is selling for $? or 25 cent above th-posted th-posted th-posted price of $1.75 for ordinary Midconlinent crude. to .Mexican lYtrolcnnt , , ' onipnieiiu oi on oy .Mexican j etroieum 1.0. Ujril.K tne' .... .v.,.i .k..i nnrxvi k-ri. k-ri. k-ri. .n- .n- . - limalrly 3.4 10. 000 barrel for th month. This compares with 3.222.818 barrels in December and 2,427,974 barr.N in November of last year. Total shipment for company in I920 were 28.6H7.000 barrel or a monthly aeiare f 2;'J0.0OO barrel.