Column: Oil prices slump as receding price-cap threat unmasks worsening demand
Global oil prices have tumbled more than 20% as the threat to production from the G7 Russia price cap has receded allowing traders to refocus on the deteriorating outlook for consumption.
Below is an instruction that describes a task. Write a response that appropriately completes the request.

### Instruction: Column: Oil prices slump as receding price-cap threat unmasks worsening demand

### Response: Global oil prices have tumbled more than 20% as the threat to production from the G7 Russia price cap has receded allowing traders to refocus on the deteriorating outlook for consumption.