With reference to the Wall Street Journal (WSJ) article, dated 2 October 2024, titled "Saudi Oil Min Said Prices May Fall to $50/B if Others Cheat, Sources Say," the OPEC Secretariat categorically refutes the claims made within the story as wholly inaccurate and misleading.

The article falsely reported that a conference call took place in which the Saudi Arabian Energy Minister allegedly warned OPEC+ members of a potential price drop to $50 per barrel should they fail to comply with agreed production cuts. It also attributed an alleged quote to the Minister, stating: "Some better shut up and respect their commitments toward OPEC+." These claims are entirely unfounded.

OPEC secretariat stresses that no such conference call occurred last week, nor has any call or video conference taken place since the last OPEC+ meeting on September 5. The alleged statements, attributed to unnamed sources, lack any credibility and are completely fabricated.

OPEC secretariat emphasizes that its meetings, whether in person or via teleconference, are consistently conducted in a civil and respectful manner. Therefore, it is deeply concerning that the WSJ would publish such a report, which not only lacks journalistic integrity and professionalism but also shows a blatant disregard for the respect owed to OPEC+ Ministers.