The industry has voiced concerns around how a price cap will be implemented
Fears grow as Russian oil price cap looms
Worries over unintended consequences of interference in traded markets increase as December nears
The G7’s proposed price cap on Russian oil may have been endorsed by the EU in early October, but that does not mean that, as its 5 December proposed date gets closer, there are still no doubts about its efficacy and worries around potential unintended consequences. The idea envisages a comprehensive prohibition of services in trade and transport of Russian oil unless the oil and products were purchased at or below a price determined by a broad coalition of countries that intend to implement the cap, says Edward Bell, senior director for market economics at bank Emirates NBD. “Oil markets are watching closely for how a price cap on Russian oil will be implemented by G7 nations,” he warns. Wh
Also in this section
9 April 2025
Oil’s resilience and gas’ growth will continue to define the global energy mix into 2050, according to Petroleum Economist analysis, but that does not have to spell doom and gloom for sustainability
9 April 2025
AI is powering the Middle East & North Africa’s digital transformation, but can the region meet soaring energy demand sustainably? Small modular reactors may hold the key
9 April 2025
North African producer hopeful of bringing in IOCs despite the disagreements over terms as latest bidding round is launched
9 April 2025
The surprise decision to bring on extra supply has coincided with better quota conformity from laggards in the group, Petroleum Economist analysis shows
