WorldViews: Why are global oil prices dropping? Vladimir Putin has a theory.

By Michael Birnbaum, November 6, 2014

MOSCOW — Global oil prices have been plummeting, and Russian President Vladimir Putin on Thursday offered a theory why: politics.

Oil prices fell to a four-year low this week, and that has further tightened the screws on Russia’s economy, already hit hard by sanctions and fears of recession. The Russian ruble has been plummeting, in part because the country’s economic well-being is so closely tied to the price of oil. On Thursday alone, the ruble dropped 3.64 percent against the dollar.

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