Why were Texas oil producers ordered to limit production during the Great Depression?

a.
Texas oil fields were in danger of running dry.
b.
Oklahoma needed a chance to break into the oil market.
c.
Overproduction was causing prices to drop.
d.
Too many shantytowns were springing up in East Texas.

Please select the best answer from the choices provided

(C)Overproduction was causing prices to drop
During the Great Depression, people and businesses freaked out and started producing to much products. Even oil at the time. Since they were producing to much at the time, they had to sell as much oil as they could so that it wouldn’t go to waste. Since all that oil was on the market, the prices had to be lowered so that they could sell as much as possible before it all went to waste. Oil was also valued a lot back then but the value of oil went down after this and their oil supply stopped selling as fast and went to waste anyways.