![An oil tanker at the Sheskharis complex in Novorossiysk, Russia. AP](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/ODUS6HQOIMDCVJ533IXSPLBISY.jpg?smart=true&auth=d91160ad54fc8f3a50297109553e815a89cfd0bdbe6888eb5fc1f52a66177383&width=400&height=225)
An oil tanker at the Sheskharis complex in Novorossiysk, Russia. AP
An oil tanker at the Sheskharis complex in Novorossiysk, Russia. AP
Price cap on Russian oil signals an attempt by buyers’ group to set terms in the market
Oil has entered a new orbit where Opec+ needs to deal with the rising power of importers