OPEC denies reports of potential oil price drop

OPEC has rejected claims made by The Wall Street Journal that Saudi Arabia's Energy Minister, Abdulaziz bin Salman Al-Saud, warned OPEC+ members that oil prices could fall to $50 per barrel if the alliance's agreements are not adhered to, Azernews reports.

According to a statement published by OPEC on "X" (formerly Twitter), the claims are "completely unfounded." OPEC clarified that there was no video conference or call among OPEC+ members last week, as suggested by the American publication.

The organization also pointed out that the last official meeting of OPEC+ took place on September 5, prior to today's monitoring committee meeting.

"The dubious claims related to anonymous sources have no credibility and are completely fabricated," OPEC emphasized in its statement.