It's bad parenting to limit your child's social life, which is increadibly important

OP sees his friends at schools and on parts of the weekend. I don't know where you live, but I'm a teacher and most students never meet their friends on weekdays since they have homework/extracurriculars etc. to do.

They're being increadibly draconian, there's no reason why they can't take a holistic approach to this and let OP see their friends during the week within reason. It's not even about letting OP be with their friends for more time, just not be unnecesarily strict.

Good for you knowing OP's exact situation. And teenagers usually never exaggerate.