Saudi Arabia’s oil minister reportedly warned fellow producers that oil could drop to $50 if they don’t comply with agreed production cuts.

OPEC rebutted a Wall Street Journal report on Wednesday, calling it wholly inaccurate and misleading in saying that Saudi Arabia's energy minister warned oil prices will drop to $50 per barrel if OPEC+ members do not stick to agreed-upon production limits.

Saudi Arabia's oil minister says oil prices could fall as low as $50 per barrel if OPEC+ keeps overproducing, according to a Wall Street Journal report. Prince Abdulaziz bin Salman's forecast, made during a conference call last week,

Last week, the Financial Times reported that Saudi Arabia was ready to abandon its unofficial price target of $100 a barrel for crude oil as it prepares to increase output, effectively signaling that it is resigned to a prolonged period of lower oil prices.

Crude oil futures ended with small gains. Saudi Arabia oil minister reportedly warned OPEC members that oil could drop to $50/bbl if cheaters failed to comply with agreed production cuts.

Saudi Arabias oil minister has issued a warning that oil prices could fall to $50 a barrel if certain OPEC+ members continue to exceed their agreed production limits, as reported by delegates referenced in The Wall

The Saudi energy minister warned that oil prices could drop to $50 per barrel if OPEC members continue to exceed their agreed-upon production limits. According to The Wall Street Journal, other OPEC members interpreted this as a veiled threat to initiate a price war.

The Saudi Energy Minister has warned that oil prices could fall to £40 per barrel if OPEC members continue to exceed their agreed production limits. According to The Wall Street Journal, other OPEC members saw these statements as a veiled threat to initiate a price war.