Saudi Arabia’s Energy Minister has warned that oil prices could plummet to $50 per barrel if OPEC+ members fail to adhere to the agreed production limits. This statement has been interpreted by other oil-producing countries as a potential threat of a price war should members not comply with the group's agreements, aiming to maintain Saudi Arabia's market share.
Last week, during a phone conference, Saudi Energy Minister Prince Abdulaziz cautioned other oil-producing nations about the risks of falling oil prices. According to sources, he specifically highlighted the overproduction issues in Iraq and Kazakhstan.
