It would help if you find common denominator... 12
so 1/3 times 4 both the numerator and denominator
4/12
and 3/4 times by 3 both the numerator and denominator
9/12
the recipe calls for 4/12 cup of oil and you have 9/12
two batches would be 8/12 cups of oil, you have 9/12 that is just enough for the recipe for two batches...
now to simplify it again, 1/3 + 1/3 = 2/3 and 2/3 is less than 3/4
the answer would be the upper right