A war raging on oil prices ... and the postponement of the "OPEC Plus" conference

Russian presidential spokesman Dmitry Peskov announced the postponement of the OPEC Plus conference to April 9, after it was scheduled to be held today, Monday.

Piskov added in press statements today from the capital, Moscow, that Russia is ready to work with other countries to achieve stability in global energy markets.

He noted that the agenda of Russian President Vladimir Putin does not include making phone calls to his US counterpart Donald Trump and Saudi officials.

Peskov explained that technical reasons prevented the holding of a meeting in closed-circuit television.

Swipe and gash
For its part, Russia criticized by the Kremlin spokesman, Dmitry Peskov, Saudi Arabia's actions in the oil markets, stressing that it will soon lead to the fulling of all oil tanks in the world.

Piskov was quoted by Interfax news agency as saying that Russia wanted constructive talks on the situation in the oil market and saw no alternative to the dialogue.

He added that "Russia does not favor ending the OPEC Plus agreement, President (Vladimir) Putin and Russia are committed to a constructive and irreplaceable negotiation process in order to stabilize the global energy market."

Reuters quoted Aramco officials confirmed their postponement of oil shipments prices until next month, in a measure considered unprecedented by Saudi Arabia, pending the outcome of a meeting between OPEC and its allies regarding possible production cuts.

"It is an unprecedented measure that Aramco has not taken before. Official selling prices for May will depend on the outcome of the OPEC Plus meeting. We are doing our best to make it successful, including taking this extraordinary step to postpone the official selling prices," the insider said.

America and Saudi Arabia
For its part, the US Energy Department said today that the Saudi-Russian conflict in the field of oil has great repercussions for the United States, and the domestic energy sector in particular.

The ministry stated in a press briefing that the American Energy Ministers Dan Bruelet and Saudi Arabia Abdulaziz bin Salman telephoned the developments of the global oil market during the weekend.

Bruilett told his Saudi counterpart that the oil dispute between Riyadh and Moscow had negative repercussions for the United States, calling for continued discussion during the coming period.

In a related context, US President Donald Trump said that he will impose very huge fees on oil if prices continue to remain the same now, and this comes on the impact of a Saudi-Russian rift over the oil price crisis.

Trump added that he will do this to protect the energy sector in the United States, stressing that the imposition of fees means that the United States does not need foreign oil.

It is noteworthy that last March 5, the OPEC Plus coalition, which includes OPEC members and independent producers led by Russia - disintegrated after differences between Riyadh and Moscow over deepening production cuts - until the end of 2020.

Since that date, Saudi Arabia and Russia have been locked in a war on oil prices, followed by the Riyadh announcement to increase production pumping to an average of 13 million barrels per day by next May, compared to 9.8 million barrels per day in February.