The General Secretariat of the Organization of the Petroleum Exporting Countries (OPEC) categorically denied statements attributed to the Saudi Petroleum Minister in the Wall Street Journal (WSJ) on Wednesday, about the drop in oil prices to $50 a barrel if others cheat.
The OPEC secretariat said the allegations in the Wall Street Journal article were inaccurate and completely misleading.
It stated that the article incorrectly talks about a phone call, which allegedly took place, and claims that the Saudi energy minister warned OPEC Plus members of the possibility of prices falling to $50 a barrel if they do not comply with the agreed production cuts.
According to OPEC, the article attributed to the minister a phrase in which he allegedly said: “Some should shut up and respect their commitments to OPEC Plus.” The OPEC Secretariat maintains that this is unfounded.
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