(Photo: AFP)

RIYADH, March 11 (Xinhua) -- Saudi Arabia denied on Wednesday news reports about reviewing oil prices with a Russian official.

A news report by Wall Street Journal released on Tuesday about Saudi Minister of Investment Khalid Al-Falih discussing with Russia's Energy Minister Alexander Novak to resolve differences in oil production policies is "baseless," the Ministry of Investment said in a statement on the Saudi Press Agency on Wednesday.

Fully supporting the efforts being led by Saudi energy minister, Al-Falih "is not playing any role in such discussions nor planning on travelling to Moscow," the ministry asserted.

It highlighted that Al-Falih urged media to avoid publication of any claims that have not been properly corroborated from appropriate and reliable source.

Saudi oil company Saudi Aramco announced Wednesday it will raise its maximum sustainable capacity to 13 million barrels per day, following the breakdown of talks on Friday between OPEC members and Russia on securing a further oil production cut.