In an effort to raise global oil prices following a year of weak demand, Iraq's oil minister Thamer Ghadhban endorsed OPEC's plan to extend cuts in oil production from the agreed upon 1.2 million barrels per day to 1.6 million barrels per day. Iraq is OPEC's second-largest oil producer, behind Saudi Arabia, but is also one of the organization's most chronic overproducers, having repeatedly violated oil production cut agreements. In August and September, Iraq produced an average of 4.85 million barrels per day, its highest production on record, although it did cut production by 120,000 barrels per day between September and October. According to Ghadhban, "We are trying to adhere to our commitment that we have agreed on the third of December last year with our colleagues in OPEC and outside OPEC, but with difficulties, of course."Source: Natasha Turak, "Iraq, one of OPEC's biggest over-producers, is urging deeper production cuts," cnbc.com, December 4, 2019.Refer to the Article Summary. Should Iraq choose to again violate the OPEC agreement and produce more oil than the agreement calls for, this may likely result in a decrease in the price of oil. After an unexpected decrease in the price of oil, the long-run adjustment ________ the price level and ________ the unemployment rate as they return to their original levels.

A.

decreases; increases

B.

decreases; decreases

C.

increases; decreases

D.

increases; increases