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Global Oil Glut Sends Prices Plunging - WSJ Economists say falling oil prices could kill off Russia’s flagging economic growth, forecast at no more than 0.5% this year. Evgeny Nadorshin, chief economist at Russian conglomerate AFK Sistema, said Russia’s economy could begin contracting by the end of this year if oil prices remain near $90 a barrel. Leading Russian politicians and executives believe the Saudis are pushing down prices to target Russia’s oil-export-dependent economy and Mr. Putin, as an extension of ongoing sanctions.