NEW YORK, October 2. /TASS/. Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman has said that oil prices may fall to $50 per barrel unless a number of OPEC+ nations adhere to agreed output limits, The Wall Street Journal (WSJ) reported citing sources.

This comes amid an online meeting of the OPEC+ ministerial monitoring committee aimed at estimating the current situation on the oil market, which is taking place now. Its participants intend to discuss the issue of weakening output restrictions in December, according to the publication.

Riyadh has warned a number of countries, including Iraq, against an increase in oil production, indicating that they should observe their OPEC+ commitments.

The price of futures contracts of Brent crude oil for December delivery rose above $76 per barrel on London's ICE earlier on Wednesday for the first time since September 3, 2024. The price of oil is rising amid an escalation in the Middle East.