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
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
