Oil prices mixed as hopes dim for OPEC output cut

SINGAPORE, Nov 19 (AFP): Oil prices were mixed in Asia today as dealers predicted that leading producer Saudi Arabia will resist pressure from other OPEC members to cut output in order to prop up falling prices.

US benchmark West Texas Intermediate for December delivery fell 44 cents to $74.17 while Brent crude for January rose eight cents to $78.55 in afternoon trade.

"The focus at the moment is on Saudi Arabia and whether it will succumb to pressure from within the OPEC cartel and outside to cut production," Michael McCarthy, chief market strategist at CMC Markets in Sydney, told AFP.