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.

The report cited unidentified delegates from the oil producers group as saying they heard the minister, Prince Abdulaziz bin Salman, give the warning on a conference call last week. The WSJ cited the sources as saying he had singled out Iraq and Kazakhstan for overproduction.

"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 added in a post on X.

OPEC stressed that no such conference call occurred last week, nor has any call or video conference taken place since the OPEC+ meeting on Sept. 5.

The statements were interpreted by other producers as a threat that Saudi Arabia is willing to launch a price war to keep its market share if other countries refuse to abide by the group's agreements, the WSJ report said.

A panel of ministers from the Organization of the Petroleum Exporting Countries and allies, together called OPEC+, will meet later on Wednesday to review the market, with no policy changes expected.

(Reporting by Shivani Tanna in Bengaluru, additional reporting by Yomna Ehab; editing by Jason Neely, Louise Heavens and Richard Chang)