Answer :
During the Great Depression, there was a dramatic decline in oil prices in the 1930s due to people's unwillingness to buy it led to overproduction.
What major events happened during the Great depression?
The great depression lasted for almost 10 years (from late 1929 to about 1939) and affected almost every country in the world.
It is characterized by a sharp decline in industrial production and prices (inflation), severe unemployment, bankruptcy, and a sharp rise in interest rates. poverty. and homelessness.
In the event of over-production, it creates a situation where the stock of products far exceeds the number of people willing to buy them.
In response, retailers are beginning to lower the price of oil to make consumers more interested in buying it.
Prior to further production, the cost of oil at that time was about $ 1.88 / barrel. After overproduction, it amounted to about 65 cents per barrel.
Thus, the correct statement is Option D. Oil that is During the 1930s worldwide prices for Oil fell due to overproduction in East Texas.
To learn more about Great depression, refer:
https://brainly.com/question/441267