Had that set when I was a kid. It isn't vintage 1929 - more like vintage 1959. At best 1949. The track and loco are identical to what I had too.
MobilOil tankers like that didn't exist in '29, either.
This is what was made in 1935-41
http://www.dhub.org/object/43689,brand+names
Yours is definitely a later one - the real loco it is based on was built in 1933.