Russia’s participation in the OPEC deal to cut oil output, which was rolled over last night, has so far had only a modest impact on the economy and can account for just 10% of the slowdown in annual GDP growth between Q2 and Q3. It is likely to have a larger effect on annual GDP growth in Q4 – the oil sector could knock around 0.2%-pts off headline growth. But even this is pretty small, and the drag on growth should ease over the course of 2018.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services