Russian Federation energy markets outlook H2 2015 - overview
The Russian economy is largely driven by revenue from oil and gas exports. The rising price of hydrocarbons provided a catalyst for Russian economic growth between 1998 and 2007. There is also an indication that rising economic demand does not necessarily lead to increased output, perhaps an indication that Russia is running out of spare capacity because of a lack of investment. Russia has become largely industrialised and a rise in GDP no longer necessarily results in increased output from the non-oil sector. As a result, energy demand growth has started to slow.