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,

The Saudi oil minister has said prices could drop to as low as $50 per barrel if so-called cheaters within OPEC+ don’t stick to agreed-upon production limits, according to delegates in the cartel.The remarks were interpreted by other producers as a veiled threat from the kingdom that it is willing to launch a price war to keep its market share if other countries don’t abide by the group’s agreements,