Saudi Arabia is a member of the OPEC. The countries in OPEC produce oil according to preset amounts. When Saudi Arabia cuts oil production, the
(a) supply of crude oil will fall, and the prices of oil in world market will rise.
(b) supply of crude oil will rise, and the prices of oil in world market will fall.
(c) demand for crude oil will fall, and the prices of oil in world market will rise.
(d) demand of crude oil will fall, and the prices of oil world market will fall.
