Two oil companies cut the price they’ll pay for crude.

In separate announcements, Unocal Corp. and the Marathon Oil unit of U.S. Steel Corp. said they have reduced their posted price for West Texas Intermediate, the major U.S. grade, to $27.50 a barrel from $28.50. As recently as mid-October, the U.S. oil industry was maintaining a $30-a-barrel price for West Texas Intermediate. Most major oil companies are posting prices between $28 and $29 a barrel for West Texas Intermediate, but a few already have dropped below $27.