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Question:

If you see this sign while you're driving, you may need to

A reduce your speed.
Explaination

This sign means that the road is slippery when wet. In wet weather, slow down, increase your following distance, and avoid sudden maneuvers or hard braking. The first half hour of rain is the most hazardous. Dust and oil mix with the rainwater and make the roadway more slippery until more rain washes the dust and oil away.